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

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) shares 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.

Analysts Set New Price Targets

A number of analysts have issued reports on NRIX shares. Stephens reaffirmed an "overweight" rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th. Needham & Company LLC restated a "buy" rating and set a $29.00 target price on shares of Nurix Therapeutics in a report on Wednesday, November 6th. Oppenheimer raised their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Robert W. Baird initiated coverage on Nurix Therapeutics in a research note on Friday, September 6th. They issued an "outperform" rating and a $26.00 price objective for the company. Finally, UBS Group initiated 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. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.40.

Nurix Therapeutics Stock Down 4.9 %

The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -7.49 and a beta of 2.20. The stock has a fifty day moving average price of $24.51 and a 200-day moving average price of $21.34.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, research analysts expect that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 9,870 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.01, for a total transaction of $246,848.70. Following the sale, the insider now directly owns 24,592 shares in the company, valued at approximately $615,045.92. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 20,000 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total value of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The trade was a 39.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,321 shares of company stock worth $1,414,409 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently bought and sold shares of NRIX. Acadian Asset Management LLC raised its holdings in shares of Nurix Therapeutics by 576.7% in the first quarter. Acadian Asset Management LLC now owns 160,293 shares of the company's stock worth $2,355,000 after acquiring an additional 136,606 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Nurix Therapeutics by 365.0% in the second quarter. SG Americas Securities LLC now owns 103,199 shares of the company's stock worth $2,154,000 after acquiring an additional 81,005 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Nurix Therapeutics by 80.7% in the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company's stock worth $6,762,000 after acquiring an additional 144,700 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of Nurix Therapeutics in the second quarter worth $593,000. Finally, Candriam S.C.A. raised its holdings in shares of Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company's stock worth $24,297,000 after acquiring an additional 272,136 shares during 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.