Nurix Therapeutics (NASDAQ:NRIX) Shares Gap Down After Insider Selling

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $22.09, but opened at $21.56. Nurix Therapeutics shares last traded at $21.58, with a volume of 6,508 shares.

Specifically, insider Christine Ring sold 5,760 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $22.23, for a total transaction of $128,044.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $546,680.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

NRIX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Needham & Company LLC reduced their target price on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, July 12th. HC Wainwright upped their price target on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. Finally, Barclays boosted their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Nurix Therapeutics Trading Down 2.0 %

The stock has a market cap of $1.06 billion, a PE ratio of -7.57 and a beta of 2.22. The company’s 50 day moving average is $23.14 and its 200-day moving average is $18.78.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The business had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. As a group, analysts forecast that Nurix Therapeutics, Inc. will post -2.95 EPS for the current year.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares in the last quarter. EntryPoint Capital LLC bought a new position in Nurix Therapeutics during the first quarter worth about $123,000. China Universal Asset Management Co. Ltd. raised its holdings in Nurix Therapeutics by 67.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after buying an additional 3,793 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Nurix Therapeutics during the second quarter worth $201,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Nurix Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after purchasing an additional 998 shares in the last quarter.

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.