Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Down to $16.19

Nurix Therapeutics, Inc. (NASDAQ:NRIX) gapped down before the market opened on Tuesday . The stock had previously closed at $16.19, but opened at $15.68. Nurix Therapeutics shares last traded at $15.86, with a volume of 67,476 shares.

Wall Street Analysts Forecast Growth

NRIX has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Stephens started coverage on shares of Nurix Therapeutics in a research report on Tuesday, May 14th. They issued an “overweight” rating and a $20.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, May 14th. HC Wainwright cut their price target on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Finally, Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.88.

Nurix Therapeutics Trading Up 1.1 %

The stock’s fifty day moving average price is $14.22 and its 200-day moving average price is $10.84.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The business had revenue of $16.59 million during the quarter, compared to analyst estimates of $14.58 million. Analysts forecast that Nurix Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now owns 68,333 shares of the company’s stock, valued at $876,712.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 6,893 shares of company stock worth $85,756 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Ikarian Capital LLC bought a new position in Nurix Therapeutics during the first quarter worth $4,410,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Nurix Therapeutics by 73.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 434,413 shares of the company’s stock worth $6,386,000 after purchasing an additional 184,086 shares in the last quarter. Caxton Associates LP bought a new position in Nurix Therapeutics in the first quarter worth $225,000. Redmile Group LLC increased its holdings in Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after buying an additional 1,226,497 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Nurix Therapeutics by 3.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company’s stock worth $747,000 after buying an additional 1,820 shares in the last quarter.

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.