Nurix Therapeutics (NASDAQ:NRIX) Trading Down 4.5% - Time to Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s stock price fell 4.5% during trading on Wednesday . The stock traded as low as $11.64 and last traded at $11.43. 21,849 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 846,892 shares. The stock had previously closed at $11.97.

Analysts Set New Price Targets

Several brokerages recently commented on NRIX. Leerink Partnrs raised shares of Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Stifel Nicolaus decreased their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price target on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.18.

Nurix Therapeutics Trading Down 1.7%

The stock's 50-day moving average price is $11.03 and its 200-day moving average price is $14.40. The company has a market cap of $887.43 million, a P/E ratio of -4.16 and a beta of 2.15.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 47.49% and a negative net margin of 369.40%. The business had revenue of $18.45 million for the quarter, compared to analyst estimates of $12.78 million. During the same quarter in the prior year, the company earned ($0.76) earnings per share. On average, research analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NRIX. US Bancorp DE lifted its position in shares of Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after purchasing an additional 842 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $28,000. Aquatic Capital Management LLC bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $87,000. Exchange Traded Concepts LLC boosted its stake in shares of Nurix Therapeutics by 38.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock worth $109,000 after buying an additional 2,562 shares during the last quarter. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Nurix Therapeutics in the 1st quarter worth approximately $122,000.

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.