Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up – Still a Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $20.66, but opened at $21.38. Nurix Therapeutics shares last traded at $22.01, with a volume of 102,166 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group started coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price for the company. BTIG Research started coverage on Nurix Therapeutics in a report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada lowered their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. HC Wainwright boosted their target price on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Stephens reiterated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.06.

Nurix Therapeutics Trading Up 9.1 %

The business’s fifty day moving average price is $23.72 and its 200 day moving average price is $22.05. The company has a market capitalization of $1.60 billion, a P/E ratio of -7.68 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The company had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. Equities research analysts anticipate that Nurix Therapeutics, Inc. will post -2.81 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christine Ring sold 3,290 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at approximately $614,800. This trade represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gwenn Hansen sold 3,437 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value of $83,519.10. Following the completion of the transaction, the insider now directly owns 50,670 shares in the company, valued at $1,231,281. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,401 shares of company stock worth $437,453 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Several large investors have recently made changes to their positions in the business. Amalgamated Bank lifted its position in Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after acquiring an additional 559 shares during the last quarter. Quarry LP lifted its position in shares of Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 2,435 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after purchasing an additional 1,312 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.