Nurix Therapeutics (NASDAQ:NRIX) Shares Down 4.4% - Should You Sell?

Key Points

• Nurix Therapeutics shares fell 4.4% to $9.33 amid a significant drop in trading volume, highlighting a decline in investor interest.
• Analysts have mixed sentiments on the stock, with price target adjustments ranging from $26.00 to $33.00, though the consensus rating remains a "Moderate Buy".
• The company reported a loss of $1.03 EPS for the last quarter, missing expectations and showing a negative net margin of 292.50%.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) fell 4.4% during mid-day trading on Monday . The stock traded as low as $9.00 and last traded at $9.33. 247,807 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 901,142 shares. The stock had previously closed at $9.76.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group lowered their price target on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Stifel Nicolaus set a $33.00 price objective on shares of Nurix Therapeutics in a report on Friday. Oppenheimer cut their target price on shares of Nurix Therapeutics from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday. Piper Sandler cut their price objective on shares of Nurix Therapeutics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.93.

Nurix Therapeutics Trading Down 1.0%

The company has a market capitalization of $738.80 million, a price-to-earnings ratio of -3.24 and a beta of 2.33. The firm's 50 day moving average price is $9.53 and its two-hundred day moving average price is $10.55.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.19). Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. The company had revenue of $7.89 million during the quarter, compared to analyst estimates of $16.06 million. As a group, equities research analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insiders Place Their Bets

In related news, insider Gwenn Hansen sold 4,308 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total transaction of $51,739.08. Following the transaction, the insider directly owned 69,023 shares in the company, valued at approximately $828,966.23. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,402 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $11.03, for a total transaction of $59,584.06. Following the sale, the chief financial officer owned 35,512 shares of the company's stock, valued at approximately $391,697.36. The trade was a 13.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,014 shares of company stock valued at $163,014 in the last three months. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in Nurix Therapeutics by 9.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company's stock worth $6,029,000 after purchasing an additional 44,002 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Nurix Therapeutics by 4.0% in the first quarter. ARK Investment Management LLC now owns 1,590,910 shares of the company's stock worth $18,900,000 after buying an additional 60,617 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Nurix Therapeutics during the 1st quarter worth approximately $499,000. Vanguard Group Inc. raised its position in shares of Nurix Therapeutics by 1.6% during the first quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company's stock valued at $52,452,000 after buying an additional 69,856 shares during the last quarter. Finally, Vestal Point Capital LP increased its position in Nurix Therapeutics by 132.1% in the first quarter. Vestal Point Capital LP now owns 1,125,552 shares of the company's stock worth $13,372,000 after purchasing an additional 640,552 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.

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