Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Down – What’s Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped down before the market opened on Tuesday . The stock had previously closed at $9.85, but opened at $9.63. Nurix Therapeutics shares last traded at $10.13, with a volume of 13,638 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on NRIX. JPMorgan Chase & Co. reduced their target price on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Morgan Stanley boosted their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a research note on Monday, March 17th. They issued a “market perform” rating and a $16.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.44.

Nurix Therapeutics Stock Performance

The company’s 50-day moving average is $13.84 and its 200-day moving average is $19.06. The firm has a market cap of $753.21 million, a price-to-earnings ratio of -3.42 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. The business had revenue of $18.45 million for the quarter, compared to analysts’ expectations of $12.78 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. On average, analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Activity

In other news, CFO Houte Hans Van sold 2,811 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the transaction, the chief financial officer now owns 39,549 shares of the company’s stock, valued at approximately $785,047.65. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $213,449 over the last 90 days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Nurix Therapeutics by 7.0% in the first quarter. Rhumbline Advisers now owns 110,488 shares of the company’s stock valued at $1,313,000 after buying an additional 7,255 shares during the period. GAMMA Investing LLC raised its position in shares of Nurix Therapeutics by 202.2% in the 1st quarter. GAMMA Investing LLC now owns 14,018 shares of the company’s stock valued at $167,000 after acquiring an additional 9,380 shares during the period. Wellington Management Group LLP boosted its stake in Nurix Therapeutics by 3.0% during the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company’s stock worth $67,572,000 after acquiring an additional 104,500 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics during the fourth quarter valued at approximately $28,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Nurix Therapeutics by 14.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,713 shares of the company’s stock valued at $2,764,000 after purchasing an additional 18,189 shares in the last quarter.

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.