Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up to $11.12

Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Rating) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.12, but opened at $11.76. Nurix Therapeutics shares last traded at $11.98, with a volume of 1,107 shares changing hands.

A number of research firms have weighed in on NRIX. Wells Fargo & Company upgraded Nurix Therapeutics from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research note on Tuesday, May 31st. Royal Bank of Canada lowered their price target on Nurix Therapeutics from $42.00 to $39.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Needham & Company LLC dropped their target price on Nurix Therapeutics from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 27th. HC Wainwright cut their price target on Nurix Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Finally, Piper Sandler dropped their price objective on shares of Nurix Therapeutics from $55.00 to $35.00 in a research note on Tuesday, May 31st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $43.14.

The firm’s 50-day simple moving average is $10.81 and its two-hundred day simple moving average is $16.70.

Nurix Therapeutics (NASDAQ:NRIXGet Rating) last released its quarterly earnings results on Thursday, April 7th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). Nurix Therapeutics had a negative return on equity of 38.11% and a negative net margin of 394.21%. The firm had revenue of $9.62 million during the quarter, compared to analyst estimates of $8.77 million. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -3.93 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Prospera Financial Services Inc purchased a new stake in Nurix Therapeutics in the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nurix Therapeutics by 26.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,118 shares of the company’s stock worth $72,000 after purchasing an additional 1,071 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Nurix Therapeutics by 211.1% in the 1st quarter. Quantbot Technologies LP now owns 5,600 shares of the company’s stock worth $78,000 after acquiring an additional 3,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Nurix Therapeutics during the 4th quarter valued at about $117,000. Finally, Ensign Peak Advisors Inc increased its position in Nurix Therapeutics by 512.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 4,890 shares of the company’s stock worth $142,000 after buying an additional 4,091 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

About Nurix Therapeutics (NASDAQ:NRIX)

Nurix Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available 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 available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.

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