Nurix Therapeutics (NASDAQ:NRIX) Shares Down 5.4% – Should You Sell?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) traded down 5.4% during trading on Tuesday . The stock traded as low as $20.37 and last traded at $20.3080. 1,257,118 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 1,067,172 shares. The stock had previously closed at $21.47.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer dropped their price target on Nurix Therapeutics from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 10th. HC Wainwright cut their target price on shares of Nurix Therapeutics from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Morgan Stanley decreased their price target on shares of Nurix Therapeutics from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Nurix Therapeutics in a research report on Monday. Finally, Mizuho started coverage on shares of Nurix Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $24.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.53.

Nurix Therapeutics Stock Performance

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -6.63 and a beta of 1.87. The business has a fifty day moving average price of $12.83 and a 200 day moving average price of $11.49.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.19). Nurix Therapeutics had a negative return on equity of 53.57% and a negative net margin of 292.50%.The business had revenue of $7.89 million for the quarter, compared to analysts’ expectations of $16.06 million. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,284 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $12.56, for a total transaction of $78,927.04. Following the sale, the chief financial officer directly owned 37,592 shares in the company, valued at $472,155.52. The trade was a 14.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gwenn Hansen sold 4,087 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $12.80, for a total value of $52,313.60. Following the completion of the transaction, the insider directly owned 76,751 shares in the company, valued at approximately $982,412.80. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,501 shares of company stock valued at $171,305. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC grew its stake in Nurix Therapeutics by 1.9% in the first quarter. Jump Financial LLC now owns 76,060 shares of the company’s stock worth $904,000 after purchasing an additional 1,441 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in Nurix Therapeutics by 5.6% during the 1st quarter. Corebridge Financial Inc. now owns 36,849 shares of the company’s stock worth $438,000 after buying an additional 1,942 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Nurix Therapeutics by 13.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,404 shares of the company’s stock worth $210,000 after acquiring an additional 2,248 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of Nurix Therapeutics by 16.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 18,104 shares of the company’s stock worth $206,000 after acquiring an additional 2,522 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after acquiring an additional 3,475 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.