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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped up prior to trading 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 traded.

Analyst Upgrades and Downgrades

NRIX has been the subject of a number of recent research reports. 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 research note on Monday, February 26th. 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 research note on Thursday, April 11th. Royal Bank of Canada boosted their price target on Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company cut their price target on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Finally, HC Wainwright cut their price target on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Nurix Therapeutics Stock Performance

The stock has a 50-day moving average price of $13.13 and a two-hundred day moving average price of $9.44.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data 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). Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The company had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $30.66 million. As a group, sell-side analysts predict that Nurix Therapeutics, Inc. will post -3.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,812 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.02, for a total value of $68,256.24. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $684,696.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 10,817 shares of company stock valued at $100,256. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Credit Suisse AG lifted its holdings in Nurix Therapeutics by 7.9% in the 2nd quarter. Credit Suisse AG now owns 15,619 shares of the company’s stock worth $197,000 after purchasing an additional 1,145 shares in the last quarter. Barclays PLC lifted its holdings in Nurix Therapeutics by 1.9% in the 4th quarter. Barclays PLC now owns 68,739 shares of the company’s stock worth $709,000 after purchasing an additional 1,272 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in Nurix Therapeutics by 14.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 10,356 shares of the company’s stock worth $107,000 after purchasing an additional 1,345 shares in the last quarter. Rhumbline Advisers increased 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, Principal Financial Group Inc. increased its stake in Nurix Therapeutics by 16.3% in the 1st quarter. Principal Financial Group Inc. now owns 12,804 shares of the company’s stock worth $114,000 after acquiring an additional 1,793 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.