Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 4.5% - Should You Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s share 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 trading, a decline of 97% from the average session volume of 846,892 shares. The stock had previously closed at $11.97.

Analyst Ratings Changes

Several research firms recently issued reports on NRIX. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They issued a "market perform" rating and a $16.00 price target on the stock. Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Leerink Partnrs raised Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. Finally, Wells Fargo & Company reduced their target price on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $30.18.

Nurix Therapeutics Stock Down 5.8%

The firm has a market cap of $859.99 million, a price-to-earnings ratio of -4.02 and a beta of 2.15. The stock's 50 day moving average is $10.94 and its 200 day moving average is $14.55.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $18.45 million for the quarter, compared to the consensus estimate of $12.78 million. During the same quarter in the previous year, the company earned ($0.76) EPS. Analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the transaction, the insider now directly owns 61,516 shares of the company's stock, valued at $707,434. This represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Houte Hans Van sold 6,198 shares of Nurix Therapeutics stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.33, for a total value of $70,223.34. Following the sale, the chief financial officer now owns 33,724 shares of the company's stock, valued at approximately $382,092.92. This represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,013 shares of company stock worth $137,096 in the last 90 days. Company insiders own 7.40% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after acquiring an additional 842 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics during the fourth quarter worth $28,000. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics during the fourth quarter valued at about $87,000. Exchange Traded Concepts LLC lifted its position in shares of Nurix Therapeutics by 38.9% in the first 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. acquired a new position in shares of Nurix Therapeutics during the 1st quarter valued at about $122,000.

About Nurix Therapeutics

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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