Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up – Here’s What Happened
by Doug Wharley · The Cerbat GemShares of Nurix Therapeutics, Inc. (NASDAQ:NRIX – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $18.49, but opened at $19.86. Nurix Therapeutics shares last traded at $18.44, with a volume of 270,812 shares traded.
Wall Street Analyst Weigh In
NRIX has been the topic of several research reports. Morgan Stanley set a $36.00 price objective on shares of Nurix Therapeutics and gave the company an “overweight” rating in a research report on Thursday. Mizuho upped their target price on Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Wednesday, October 8th. Oppenheimer lowered their price objective on shares of Nurix Therapeutics from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 10th. Finally, HC Wainwright upped their price objective on shares of Nurix Therapeutics from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $29.13.
Nurix Therapeutics Stock Up 3.6%
The stock has a market cap of $1.48 billion, a P/E ratio of -6.50 and a beta of 1.93. The firm’s fifty day moving average price is $16.85 and its 200-day moving average price is $12.70.
Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last posted its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The firm had revenue of $7.89 million for the quarter, compared to the consensus estimate of $16.06 million. Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. Sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.
Insider Transactions at Nurix Therapeutics
In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,284 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $12.56, for a total transaction of $78,927.04. Following the completion of the transaction, the chief financial officer owned 37,592 shares of the company’s stock, valued at $472,155.52. This represents a 14.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gwenn Hansen sold 4,087 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total value of $52,313.60. Following the completion of the sale, the insider owned 76,751 shares of the company’s stock, valued at approximately $982,412.80. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,501 shares of company stock valued at $171,305. 7.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Nurix Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Nurix Therapeutics by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,488,776 shares of the company’s stock worth $41,476,000 after purchasing an additional 23,269 shares in the last quarter. Vestal Point Capital LP raised its position in shares of Nurix Therapeutics by 73.8% in the 3rd quarter. Vestal Point Capital LP now owns 3,475,000 shares of the company’s stock worth $32,109,000 after acquiring an additional 1,475,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Nurix Therapeutics by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock worth $21,437,000 after acquiring an additional 157,592 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Nurix Therapeutics by 11.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,557,479 shares of the company’s stock valued at $14,391,000 after purchasing an additional 165,841 shares in the last quarter. Finally, Amova Asset Management Americas Inc. boosted its position in shares of Nurix Therapeutics by 12.1% during the third quarter. Amova Asset Management Americas Inc. now owns 1,557,479 shares of the company’s stock valued at $14,391,000 after purchasing an additional 168,205 shares in the last quarter.
Nurix Therapeutics Company Profile
Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.
The company’s pipeline includes multiple programs in various stages of development.