Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up – Should You Buy?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped up prior to trading on Friday . The stock had previously closed at $21.86, but opened at $23.57. Nurix Therapeutics shares last traded at $22.89, with a volume of 44,887 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. HC Wainwright upped their target price on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Robert W. Baird started coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $26.00 target price on the stock. Truist Financial started coverage on shares of Nurix Therapeutics in a research note on Wednesday, July 31st. They set a “buy” rating and a $36.00 target price on the stock. Finally, Oppenheimer upped their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Nurix Therapeutics Trading Up 8.1 %

The firm’s fifty day moving average price is $23.27 and its 200-day moving average price is $19.24. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -8.09 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.08). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current year.

Insider Activity

In related news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Ring sold 5,760 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.43, for a total transaction of $123,436.80. Following the sale, the insider now owns 24,592 shares of the company’s stock, valued at approximately $527,006.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,815 shares of company stock worth $1,424,931. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its stake in shares of Nurix Therapeutics by 576.7% in the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock worth $2,355,000 after acquiring an additional 136,606 shares during the period. SG Americas Securities LLC lifted its stake in shares of Nurix Therapeutics by 365.0% in the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after acquiring an additional 81,005 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Nurix Therapeutics by 80.7% in the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after acquiring an additional 144,700 shares during the period. TD Asset Management Inc acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter worth $593,000. Finally, Candriam S.C.A. lifted its stake in shares of Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after acquiring 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.