Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up to $23.08

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $23.08, but opened at $24.10. Nurix Therapeutics shares last traded at $23.66, with a volume of 27,743 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Nurix Therapeutics in a report on Wednesday, June 5th. Truist Financial began coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, May 15th. Needham & Company LLC decreased their price objective on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, Oppenheimer lifted their price objective on Nurix Therapeutics from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $26.69.

Nurix Therapeutics Stock Performance

The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -8.23 and a beta of 2.22. The firm has a 50-day moving average price of $21.17 and a two-hundred day moving average price of $16.34.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The business had revenue of $12.09 million for the quarter, compared to analyst estimates of $19.35 million. Research analysts anticipate that Nurix Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the transaction, the insider now owns 19,838 shares of the company’s stock, valued at $337,444.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the transaction, the chief financial officer now owns 54,479 shares of the company’s stock, valued at $1,126,080.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total value of $27,147.96. Following the transaction, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,791 shares of company stock valued at $506,063. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after purchasing an additional 3,424 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at approximately $59,000. EntryPoint Capital LLC purchased a new position in shares of Nurix Therapeutics in the 1st quarter valued at approximately $123,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Nurix Therapeutics by 67.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after purchasing an additional 3,793 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $201,000.

About Nurix Therapeutics

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.