Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up to $14.65

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $14.65, but opened at $15.10. Nurix Therapeutics shares last traded at $15.02, with a volume of 55,095 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NRIX shares. Royal Bank of Canada boosted their target price on Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company lowered their price target on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, February 16th. HC Wainwright lowered their price target on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Robert W. Baird boosted their price target on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley boosted their price target on Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.33.

Nurix Therapeutics Price Performance

The business has a fifty day simple moving average of $12.90 and a two-hundred day simple moving average of $9.37. The company has a market cap of $723.00 million, a PE ratio of -5.51 and a beta of 2.06.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). The company had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $30.66 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. On average, equities research analysts predict that Nurix Therapeutics, Inc. will post -3.28 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 6,812 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the completion of the sale, the chief financial officer now owns 68,333 shares in the company, valued at approximately $684,696.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 10,817 shares of company stock worth $100,256 over the last 90 days. Company insiders own 9.80% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NRIX. Swiss National Bank lifted its holdings in shares of Nurix Therapeutics by 8.0% during the 1st quarter. Swiss National Bank now owns 47,500 shares of the company’s stock valued at $665,000 after purchasing an additional 3,500 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Nurix Therapeutics by 34.1% in the 1st quarter. JPMorgan Chase & Co. now owns 120,516 shares of the company’s stock worth $1,688,000 after acquiring an additional 30,664 shares during the last quarter. MetLife Investment Management LLC raised its stake in Nurix Therapeutics by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 18,670 shares of the company’s stock worth $262,000 after acquiring an additional 6,891 shares during the last quarter. Rhumbline Advisers raised its stake in Nurix Therapeutics by 4.9% in the 1st quarter. Rhumbline Advisers now owns 33,511 shares of the company’s stock worth $469,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Nurix Therapeutics by 104.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 237,525 shares of the company’s stock worth $3,328,000 after acquiring an additional 121,167 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.