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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

NRIX has been the subject of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Robert W. Baird boosted their target price on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. HC Wainwright lowered their target price on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Nurix Therapeutics Stock Up 0.4 %

The stock has a market capitalization of $723.00 million, a PE ratio of -5.51 and a beta of 2.06. The business’s 50-day moving average is $12.90 and its two-hundred day moving average is $9.37.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $30.66 million. As a group, analysts anticipate that Nurix Therapeutics, Inc. will post -3.28 EPS for the current year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 6,812 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.02, for a total value of $68,256.24. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at $684,696.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 10,817 shares of company stock valued at $100,256 over the last ninety days. Insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NRIX. State Street Corp raised its holdings in shares of Nurix Therapeutics by 47.8% in the first quarter. State Street Corp now owns 2,302,544 shares of the company’s stock valued at $32,259,000 after buying an additional 744,832 shares during the last quarter. FMR LLC increased its stake in shares of Nurix Therapeutics by 59.6% during the second quarter. FMR LLC now owns 1,790,655 shares of the company’s stock worth $22,688,000 after acquiring an additional 668,632 shares during the period. Wasatch Advisors LP increased its stake in shares of Nurix Therapeutics by 25.0% during the first quarter. Wasatch Advisors LP now owns 3,174,002 shares of the company’s stock worth $28,185,000 after acquiring an additional 635,370 shares during the period. ARK Investment Management LLC increased its stake in shares of Nurix Therapeutics by 23.2% during the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock worth $32,972,000 after acquiring an additional 601,952 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Nurix Therapeutics by 453.6% during the fourth quarter. Bank of America Corp DE now owns 721,539 shares of the company’s stock worth $7,922,000 after acquiring an additional 591,198 shares during the period.

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.