Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Up - Time to Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $10.63, but opened at $11.05. Nurix Therapeutics shares last traded at $11.34, with a volume of 430,962 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have commented on NRIX shares. Wall Street Zen lowered Nurix Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stifel Nicolaus cut their target price on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Leerink Partnrs raised Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. Finally, Wells Fargo & Company dropped their price target on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.44.

Nurix Therapeutics Trading Up 0.7%

The business has a fifty day simple moving average of $10.33 and a 200 day simple moving average of $15.52. The stock has a market capitalization of $927.03 million, a P/E ratio of -4.21 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.05. The firm had revenue of $18.45 million during the quarter, compared to analyst estimates of $12.78 million. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. During the same period in the previous year, the company posted ($0.76) EPS. As a group, research analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Activity

In other news, insider Gwenn Hansen sold 3,377 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the completion of the transaction, the insider now directly owns 61,516 shares of the company's stock, valued at $707,434. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Houte Hans Van sold 2,438 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $28,037.00. Following the completion of the transaction, the chief financial officer now directly owns 39,922 shares of the company's stock, valued at approximately $459,103. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,013 shares of company stock valued at $137,096 over the last three months. Corporate insiders own 7.40% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently modified their holdings of NRIX. US Bancorp DE grew its holdings in shares of Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after acquiring an additional 842 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Nurix Therapeutics during the fourth quarter valued at $28,000. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics during the fourth quarter valued at $87,000. Exchange Traded Concepts LLC grew its holdings in Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after purchasing an additional 2,562 shares during the period. Finally, E Fund Management Co. Ltd. bought a new position in Nurix Therapeutics during the first quarter valued at $122,000.

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.