Nurix Therapeutics (NASDAQ:NRIX) Reaches New 1-Year Low – Should You Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price hit a new 52-week low on Monday . The stock traded as low as $11.38 and last traded at $11.75, with a volume of 192656 shares. The stock had previously closed at $12.15.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NRIX. Stifel Nicolaus increased their target price on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a report on Monday, March 17th. BTIG Research assumed coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.88.

Nurix Therapeutics Trading Down 3.4 %

The firm has a market capitalization of $890.53 million, a price-to-earnings ratio of -4.07 and a beta of 2.18. The firm’s 50-day moving average is $16.34 and its 200 day moving average is $20.35.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. Analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now directly owns 55,937 shares in the company, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $55,798.35. Following the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $213,449 over the last ninety days. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. US Bancorp DE lifted its position in Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after acquiring an additional 842 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Nurix Therapeutics in the fourth quarter valued at approximately $28,000. Quarry LP boosted its position in shares of Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 2,435 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Nurix Therapeutics during the fourth quarter worth $87,000. Finally, Summit Investment Advisors Inc. raised its position in Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after buying an additional 877 shares during the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.