Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped up before the market opened on Monday . The stock had previously closed at $22.11, but opened at $23.00. Nurix Therapeutics shares last traded at $21.66, with a volume of 73,230 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NRIX shares. UBS Group started coverage on Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target on the stock. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $26.00 target price for the company. HC Wainwright increased their price target on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Stephens reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Monday, October 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $29.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Nurix Therapeutics Stock Down 2.1 %

The company has a market cap of $1.53 billion, a P/E ratio of -7.60 and a beta of 2.20. The firm has a 50 day moving average of $24.02 and a 200-day moving average of $21.84.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.67). The firm had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. On average, research analysts predict that Nurix Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,437 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $83,519.10. Following the transaction, the insider now owns 50,670 shares in the company, valued at approximately $1,231,281. This represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Houte Hans Van sold 3,546 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the completion of the sale, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,451 shares of company stock valued at $663,160 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in shares of Nurix Therapeutics by 365.0% during the second quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after acquiring an additional 81,005 shares during the last quarter. Renaissance Technologies LLC raised its stake in Nurix Therapeutics by 80.7% during the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after purchasing an additional 144,700 shares during the period. TD Asset Management Inc purchased a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $593,000. Bank of New York Mellon Corp increased its holdings in shares of Nurix Therapeutics by 31.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock worth $4,365,000 after buying an additional 49,918 shares during the last quarter. Finally, Candriam S.C.A. raised its position in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after buying an additional 272,136 shares during the period.

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.