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 $14.64, but opened at $16.73. Nurix Therapeutics shares last traded at $16.0510, with a volume of 9,275,314 shares trading hands.

Wall Street Analyst Weigh In

NRIX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a report on Monday, April 27th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Nurix Therapeutics in a research note on Thursday, April 23rd. Wells Fargo & Company decreased their target price on Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of Nurix Therapeutics in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $30.46.

Nurix Therapeutics Trading Up 7.7%

The business has a 50-day moving average price of $16.33 and a 200-day moving average price of $16.88. The firm has a market cap of $1.63 billion, a P/E ratio of -4.99 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The firm had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. On average, equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gwenn Hansen sold 3,214 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the transaction, the insider directly owned 120,399 shares in the company, valued at approximately $2,004,643.35. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the transaction, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $624,027.20. The trade was a 27.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 19,657 shares of company stock valued at $326,586. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after acquiring an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Nurix Therapeutics during the fourth quarter valued at about $33,000. KBC Group NV bought a new stake in Nurix Therapeutics during the first quarter valued at about $34,000. Finally, Wexford Capital LP purchased a new position in Nurix Therapeutics in the third quarter valued at about $41,000.

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.