Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Down - What's Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $9.85, but opened at $9.63. Nurix Therapeutics shares last traded at $10.13, with a volume of 13,638 shares trading hands.

Wall Street Analyst Weigh In

NRIX has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Stephens reissued an "overweight" rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th. Finally, Royal Bank of Canada lifted their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.44.

Nurix Therapeutics Trading Up 4.5 %

The business has a 50-day moving average of $13.19 and a two-hundred day moving average of $18.77. The firm has a market cap of $780.66 million, a P/E ratio of -3.54 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.05. The company had revenue of $18.45 million for the quarter, compared to analysts' expectations 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 business posted ($0.76) earnings per share. As a group, equities analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares of the company's stock, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. This trade represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $213,449 over the last ninety days. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NRIX. Barclays PLC raised its holdings in shares of Nurix Therapeutics by 77.9% during the third quarter. Barclays PLC now owns 128,344 shares of the company's stock valued at $2,884,000 after purchasing an additional 56,190 shares during the period. Geode Capital Management LLC boosted its holdings in Nurix Therapeutics by 9.6% in the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company's stock worth $32,544,000 after acquiring an additional 126,306 shares in the last quarter. Franklin Resources Inc. grew its stake in Nurix Therapeutics by 52.4% in the third quarter. Franklin Resources Inc. now owns 123,101 shares of the company's stock valued at $2,766,000 after acquiring an additional 42,315 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Nurix Therapeutics during the third quarter valued at approximately $7,879,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Nurix Therapeutics by 85.2% during the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock valued at $1,531,000 after acquiring an additional 31,352 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.