Nurix Therapeutics (NASDAQ:NRIX) Trading Down 7.1% – Should You Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Free Report) was down 7.1% during mid-day trading on Friday . The company traded as low as $18.03 and last traded at $18.13. Approximately 84,568 shares changed hands during trading, a decline of 83% from the average daily volume of 510,214 shares. The stock had previously closed at $19.51.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NRIX shares. Royal Bank of Canada cut their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. BTIG Research initiated coverage on Nurix Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price on the stock. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a report on Monday, October 14th. BMO Capital Markets started coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, UBS Group began coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.35.

Get Our Latest Stock Analysis on Nurix Therapeutics

Nurix Therapeutics Price Performance

The firm has a 50-day simple moving average of $21.69 and a 200 day simple moving average of $22.50. The company has a market capitalization of $1.29 billion, a PE ratio of -6.27 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIXGet Free Report) last posted its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). The company had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. Equities research analysts expect that Nurix Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 3,290 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at approximately $614,800. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction of $86,096.88. Following the completion of the sale, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at approximately $818,818.72. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,641 shares of company stock worth $309,408. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Nurix Therapeutics by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock worth $4,365,000 after acquiring an additional 49,918 shares in the last quarter. Rhumbline Advisers lifted its stake in Nurix Therapeutics by 14.2% during the second quarter. Rhumbline Advisers now owns 88,781 shares of the company’s stock valued at $1,853,000 after purchasing an additional 11,010 shares during the last quarter. TD Asset Management Inc bought a new stake in Nurix Therapeutics during the second quarter worth approximately $593,000. Arizona State Retirement System acquired a new position in Nurix Therapeutics in the second quarter worth approximately $295,000. Finally, Renaissance Technologies LLC boosted its position in shares of Nurix Therapeutics by 80.7% in the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock valued at $6,762,000 after purchasing an additional 144,700 shares during the period.

About Nurix Therapeutics

(Get Free Report)

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.

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