Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Down to $17.21

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped down before the market opened on Friday . The stock had previously closed at $17.21, but opened at $16.45. Nurix Therapeutics shares last traded at $15.95, with a volume of 888,386 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NRIX shares. Needham & Company LLC reissued a “buy” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. HC Wainwright lowered their target price 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. Morgan Stanley boosted their target price 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. Wells Fargo & Company lowered their target price 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, Robert W. Baird boosted their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday. One 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Nurix Therapeutics Stock Performance

The stock has a fifty day moving average of $12.64 and a 200 day moving average of $9.27. The company has a market capitalization of $822.77 million, a P/E ratio of -6.29 and a beta of 2.06.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The business had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $30.66 million. Research analysts anticipate that Nurix Therapeutics, Inc. will post -3.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,812 shares of Nurix Therapeutics 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 completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at $684,696.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 10,817 shares of company stock worth $100,256. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Nurix Therapeutics by 41.6% during the fourth quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock valued at $2,119,000 after buying an additional 60,271 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Nurix Therapeutics by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,389,966 shares of the company’s stock valued at $24,665,000 after acquiring an additional 11,988 shares during the period. Public Employees Retirement System of Ohio grew its position in Nurix Therapeutics by 35.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 49,018 shares of the company’s stock worth $506,000 after purchasing an additional 12,880 shares during the period. Virtus ETF Advisers LLC grew its position in Nurix Therapeutics by 14.9% during 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 during the period. Finally, Barclays PLC grew its position in Nurix Therapeutics by 1.9% during 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 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.