Rhenman & Partners Asset Management AB Purchases 162,500 Shares of Nurix Therapeutics, Inc. $NRIX

Rhenman & Partners Asset Management AB raised its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 87.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 347,500 shares of the company’s stock after acquiring an additional 162,500 shares during the quarter. Rhenman & Partners Asset Management AB owned approximately 0.45% of Nurix Therapeutics worth $3,211,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Amova Asset Management Americas Inc. grew its stake in shares of Nurix Therapeutics by 12.1% in the third quarter. Amova Asset Management Americas Inc. now owns 1,557,479 shares of the company’s stock worth $14,391,000 after purchasing an additional 168,205 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nurix Therapeutics by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 430,962 shares of the company’s stock valued at $3,982,000 after purchasing an additional 3,891 shares during the last quarter. 49 Wealth Management LLC purchased a new stake in Nurix Therapeutics in the 3rd quarter worth approximately $108,000. Rafferty Asset Management LLC lifted its holdings in Nurix Therapeutics by 22.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 92,445 shares of the company’s stock worth $854,000 after buying an additional 16,722 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Nurix Therapeutics by 85.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 520,000 shares of the company’s stock worth $4,805,000 after buying an additional 240,000 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on Nurix Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Morgan Stanley set a $36.00 target price on shares of Nurix Therapeutics and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Mizuho boosted their price target on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. HC Wainwright raised their price objective on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.50.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $81,257.00. Following the completion of the transaction, the insider directly owned 83,672 shares in the company, valued at $1,388,955.20. This trade represents a 5.53% 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. Also, CFO Houte Hans Van sold 3,661 shares of Nurix Therapeutics stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $60,772.60. Following the completion of the transaction, the chief financial officer directly owned 45,427 shares of the company’s stock, valued at approximately $754,088.20. This represents a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.40% of the company’s stock.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $15.10 on Friday. The company has a 50 day simple moving average of $17.29 and a two-hundred day simple moving average of $14.24. Nurix Therapeutics, Inc. has a fifty-two week low of $8.18 and a fifty-two week high of $22.50. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -4.97 and a beta of 1.96.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Wednesday, January 28th. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.02. The firm had revenue of $13.58 million for the quarter, compared to analysts’ expectations of $13.41 million. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

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.