Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Nurix Therapeutics, Inc. $NRIX

Sumitomo Mitsui Trust Group Inc. lessened its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 8.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,181,146 shares of the company’s stock after selling 109,408 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Nurix Therapeutics were worth $18,308,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Nurix Therapeutics by 32.5% in the 4th quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after purchasing an additional 1,460,736 shares during the last quarter. General Atlantic L.P. acquired a new position in Nurix Therapeutics in the 4th quarter valued at about $92,899,000. Morgan Stanley lifted its holdings in Nurix Therapeutics by 115.9% in the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after acquiring an additional 2,620,323 shares during the last quarter. Vestal Point Capital LP grew its holdings in shares of Nurix Therapeutics by 35.0% during the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after purchasing an additional 1,215,000 shares during the period. Finally, Baker BROS. Advisors LP boosted its stake in Nurix Therapeutics by 20.0% during the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after buying an additional 776,431 shares during the period.

Nurix Therapeutics Trading Down 1.5%

Shares of NRIX opened at $22.71 on Tuesday. The stock’s 50 day moving average is $18.56 and its two-hundred day moving average is $17.38. Nurix Therapeutics, Inc. has a twelve month low of $8.19 and a twelve month high of $25.08. The firm has a market capitalization of $2.36 billion, a PE ratio of -6.58 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.88 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the sale, the chief financial officer directly owned 37,592 shares in the company, valued at $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider directly owned 115,005 shares in the company, valued at $2,300,100. This represents a 4.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 25,051 shares of company stock valued at $434,466. 6.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NRIX shares. Wall Street Zen raised Nurix Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday. Royal Bank Of Canada increased their price objective on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus raised their target price on Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial boosted their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday. Finally, Oppenheimer began coverage on Nurix Therapeutics in a research note on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.08.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.