Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up to $10.26

Nurix Therapeutics, Inc. (NASDAQ:NRIX – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $10.26, but opened at $10.67. Nurix Therapeutics shares last traded at $10.75, with a volume of 316 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on NRIX. Morgan Stanley began coverage on Nurix Therapeutics in a research report on Tuesday, October 11th. They issued an “equal weight” rating and a $11.00 target price on the stock. HC Wainwright decreased their target price on Nurix Therapeutics to $53.00 in a research report on Thursday, October 13th. Finally, SVB Leerink decreased their target price on Nurix Therapeutics from $37.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $32.90.

Nurix Therapeutics Price Performance

The stock has a market cap of $533.24 million, a price-to-earnings ratio of -3.05 and a beta of 1.63. The firm has a fifty day moving average of $11.93 and a 200 day moving average of $13.70.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Nurix Therapeutics by 11.0% during the third quarter. BlackRock Inc. now owns 3,723,090 shares of the company’s stock worth $48,512,000 after acquiring an additional 367,743 shares during the last quarter. State Street Corp increased its stake in Nurix Therapeutics by 9.2% during the third quarter. State Street Corp now owns 2,312,224 shares of the company’s stock worth $30,128,000 after acquiring an additional 195,453 shares during the last quarter. Vanguard Group Inc. increased its stake in Nurix Therapeutics by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,160,866 shares of the company’s stock worth $28,156,000 after acquiring an additional 49,370 shares during the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in Nurix Therapeutics by 41.9% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 1,822,883 shares of the company’s stock worth $23,096,000 after acquiring an additional 538,570 shares during the last quarter. Finally, FMR LLC increased its stake in Nurix Therapeutics by 59.6% during the second quarter. FMR LLC now owns 1,790,655 shares of the company’s stock worth $22,688,000 after acquiring an additional 668,632 shares during the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

Nurix Therapeutics Company Profile

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Nurix Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available 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 available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.