Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Down – Should You Sell?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Free Report) gapped down prior to trading on Monday . The stock had previously closed at $22.92, but opened at $22.30. Nurix Therapeutics shares last traded at $21.95, with a volume of 73,328 shares traded.

Analyst Ratings Changes

NRIX has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on shares of Nurix Therapeutics in a research note on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target on the stock. UBS Group began coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 target price on the stock. Oppenheimer raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Stephens reissued an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Monday, October 14th. Finally, Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $26.00 price target on the stock. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $29.40.

View Our Latest Research Report on Nurix Therapeutics

Nurix Therapeutics Trading Down 6.2 %

The company’s 50 day moving average is $24.54 and its 200-day moving average is $21.28. The stock has a market cap of $1.52 billion, a PE ratio of -7.88 and a beta of 2.20.

Nurix Therapeutics (NASDAQ:NRIXGet Free Report) last released its earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting 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. As a group, analysts forecast that Nurix Therapeutics, Inc. will post -2.81 EPS for the current year.

Insider Activity

In related news, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at $781,870.44. This represents a 39.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Ring sold 9,050 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $24.94, for a total value of $225,707.00. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at $613,324.48. This represents a 26.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,321 shares of company stock valued at $1,414,409. 7.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Redmile Group LLC boosted its holdings in Nurix Therapeutics by 37.7% during the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after acquiring an additional 1,226,497 shares during the period. Wellington Management Group LLP boosted its stake in Nurix Therapeutics by 8.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock valued at $78,243,000 after purchasing an additional 280,240 shares during the period. Geode Capital Management LLC grew its holdings in Nurix Therapeutics by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock valued at $32,544,000 after buying an additional 126,306 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Nurix Therapeutics in the 2nd quarter worth approximately $26,778,000. Finally, Candriam S.C.A. lifted its holdings in shares of Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after buying an additional 272,136 shares during the last quarter.

Nurix Therapeutics Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Nurix Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nurix Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.