Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up Following Analyst Upgrade

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares gapped up prior to trading on Thursday after Royal Bank of Canada raised their price target on the stock from $22.00 to $23.00. The stock had previously closed at $15.69, but opened at $17.09. Royal Bank of Canada currently has an outperform rating on the stock. Nurix Therapeutics shares last traded at $17.23, with a volume of 82,133 shares trading hands.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley raised their price objective 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 raised their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday. HC Wainwright reduced their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,812 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.02, for a total value of $68,256.24. Following the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at $684,696.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 10,817 shares of company stock valued at $100,256 over the last ninety days. 7.20% of the stock is owned by insiders.

Institutional Trading of Nurix Therapeutics

Several large investors have recently modified their holdings of NRIX. China Universal Asset Management Co. Ltd. lifted its holdings in Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after buying an additional 4,367 shares during the period. Royal Bank of Canada lifted its holdings in Nurix Therapeutics by 112.9% in the second quarter. Royal Bank of Canada now owns 5,804 shares of the company’s stock worth $58,000 after buying an additional 3,078 shares during the period. Quest Partners LLC purchased a new position in shares of Nurix Therapeutics during the fourth quarter valued at approximately $59,000. Quantbot Technologies LP lifted its holdings in shares of Nurix Therapeutics by 211.1% during the first quarter. Quantbot Technologies LP now owns 5,600 shares of the company’s stock valued at $78,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Natixis purchased a new position in shares of Nurix Therapeutics during the fourth quarter valued at approximately $83,000.

Nurix Therapeutics Stock Up 9.7 %

The company’s fifty day moving average price is $12.46 and its 200-day moving average price is $9.20. The stock has a market capitalization of $845.89 million, a PE ratio of -6.49 and a beta of 2.06.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.26). Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. The business had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $30.66 million. Equities research analysts anticipate that Nurix Therapeutics, Inc. will post -3.26 earnings per share for the current year.

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.