Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up – What’s Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $18.09, but opened at $21.43. Nurix Therapeutics shares last traded at $20.19, with a volume of 1,145,321 shares.

Analyst Upgrades and Downgrades

NRIX has been the topic of a number of research analyst reports. Truist Financial started coverage on shares of Nurix Therapeutics in a report on Monday, November 24th. They set a “buy” rating and a $30.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Wednesday, October 8th. Piper Sandler dropped their price target on Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company decreased their target price on Nurix Therapeutics from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.33.

Nurix Therapeutics Trading Up 20.2%

The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -7.36 and a beta of 1.87. The company has a fifty day moving average price of $12.58 and a 200-day moving average price of $11.41.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $16.06 million. As a group, research analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,087 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $12.80, for a total value of $52,313.60. Following the completion of the transaction, the insider directly owned 76,751 shares in the company, valued at $982,412.80. The trade was a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 6,284 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 37,592 shares in the company, valued at $472,155.52. This trade represents a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,501 shares of company stock valued at $171,305. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently modified their holdings of the business. Wexford Capital LP acquired a new position in Nurix Therapeutics in the 3rd quarter worth about $41,000. Tower Research Capital LLC TRC increased its position in shares of Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after buying an additional 3,475 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Nurix Therapeutics in the third quarter valued at approximately $100,000. 49 Wealth Management LLC acquired a new position in shares of Nurix Therapeutics during the 3rd quarter worth approximately $108,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Nurix Therapeutics during the 3rd quarter valued at approximately $109,000.

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.