Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 5.9% – Should You Sell?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) fell 5.9% during mid-day trading on Thursday . The stock traded as low as $11.88 and last traded at $11.88. 94,461 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 883,262 shares. The stock had previously closed at $12.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NRIX shares. Wells Fargo & Company cut their price objective on Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Leerink Partners started coverage on Nurix Therapeutics in a report on Monday, March 17th. They set a “market perform” rating and a $16.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Leerink Partnrs upgraded Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Finally, Wall Street Zen cut Nurix Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.18.

Nurix Therapeutics Price Performance

The company has a fifty day moving average price of $10.62 and a two-hundred day moving average price of $15.05. The company has a market capitalization of $909.50 million, a P/E ratio of -4.13 and a beta of 2.15.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The company had revenue of $18.45 million for the quarter, compared to analyst estimates of $12.78 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. As a group, sell-side analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the transaction, the insider now owns 61,516 shares in the company, valued at $707,434. This trade represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 2,438 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $28,037.00. Following the sale, the chief financial officer now owns 39,922 shares in the company, valued at $459,103. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,013 shares of company stock valued at $137,096. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC purchased a new position in Nurix Therapeutics in the 4th quarter worth approximately $1,406,000. Affinity Asset Advisors LLC raised its position in shares of Nurix Therapeutics by 9.3% in the 4th quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company’s stock valued at $17,711,000 after purchasing an additional 79,684 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Nurix Therapeutics in the 4th quarter worth approximately $1,026,000. RA Capital Management L.P. purchased a new position in shares of Nurix Therapeutics during the 4th quarter valued at approximately $25,120,000. Finally, Norges Bank acquired a new stake in Nurix Therapeutics during the 4th quarter worth $6,006,000.

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.