Nurix Therapeutics (NASDAQ:NRIX) Shares Down 6.7% – Time to Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) was down 6.7% during trading on Wednesday . The company traded as low as $17.96 and last traded at $18.11. Approximately 375,222 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,279,909 shares. The stock had previously closed at $19.41.

More Nurix Therapeutics News

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on NRIX to $30 and maintained an outperform view, signaling significant upside versus the current stock level. RBC increases price target to $30
• Positive Sentiment: Needham & Company reaffirmed a “buy” rating with a $26 target and BTIG reiterated a buy with a $30 target — multiple brokerages maintaining bullish outlooks provide support for upside expectations. Needham and BTIG ratings
• Negative Sentiment: Insiders sold shares on Jan. 30: Gwenn Hansen sold 4,895 shares at ~$16.60 and CFO Houte Hans Van sold 3,661 shares at ~$16.60. Insider sales can be viewed negatively by the market because they reduce insider ownership and may signal cashing out. SEC filings: Hansen Form 4 and Van Form 4
• Negative Sentiment: TipRanks highlighted a newly disclosed material foreign‑exchange risk for Nurix due to unhedged currency exposure, which could increase earnings volatility and raise capital‑markets uncertainty. TipRanks: FX risk disclosed

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Mizuho raised their price objective on Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Wall Street Zen downgraded shares of Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. HC Wainwright upped their price objective on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BTIG Research reiterated a “buy” rating and set a $30.00 price objective on shares of Nurix Therapeutics in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Nurix Therapeutics Trading Down 6.1%

The company has a market cap of $1.27 billion, a price-to-earnings ratio of -5.43 and a beta of 1.93. The firm’s 50-day moving average price is $18.50 and its 200 day moving average price is $13.36.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The company had revenue of $13.58 million for the quarter, compared to the consensus estimate of $13.41 million. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%. Analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 6,284 shares of the company’s 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 transaction, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $472,155.52. This represents a 14.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $81,257.00. Following the completion of the sale, the insider directly owned 83,672 shares of the company’s stock, valued at $1,388,955.20. This trade represents a 5.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,840 shares of company stock worth $220,957 in the last three months. Insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Nurix Therapeutics by 32.5% during the 4th quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock worth $112,862,000 after purchasing an additional 1,460,736 shares in the last quarter. Vestal Point Capital LP lifted its stake in Nurix Therapeutics by 73.8% in the third quarter. Vestal Point Capital LP now owns 3,475,000 shares of the company’s stock valued at $32,109,000 after purchasing an additional 1,475,000 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Nurix Therapeutics by 75.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,467,600 shares of the company’s stock valued at $65,780,000 after buying an additional 1,487,060 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Nurix Therapeutics by 9.1% during the second quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock valued at $21,437,000 after purchasing an additional 157,592 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Nurix Therapeutics by 11.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,557,479 shares of the company’s stock valued at $14,391,000 after buying an additional 165,841 shares in the last quarter.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.