Handelsbanken Fonder AB Buys 86,000 Shares of Nurix Therapeutics, Inc. $NRIX

Handelsbanken Fonder AB raised its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 633,000 shares of the company’s stock after purchasing an additional 86,000 shares during the period. Handelsbanken Fonder AB owned 0.61% of Nurix Therapeutics worth $15,357,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. General Atlantic L.P. acquired a new position in Nurix Therapeutics during the fourth quarter worth $92,899,000. Morgan Stanley lifted its position in Nurix Therapeutics by 115.9% in the 4th 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 in the last quarter. Rubric Capital Management LP acquired a new position in Nurix Therapeutics during the 4th quarter valued at about $46,930,000. Braidwell LP bought a new stake in Nurix Therapeutics during the 4th quarter worth approximately $41,428,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Nurix Therapeutics by 195.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock worth $61,622,000 after purchasing an additional 2,149,268 shares in the last quarter.

Analyst Ratings Changes

NRIX has been the subject of several analyst reports. Robert W. Baird increased their price objective on Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Friday, July 17th. UBS Group increased their price target on Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley raised their price objective on Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company lowered shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the transaction, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at $978,443.76. This represents a 10.60% 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 quarter, insiders sold 25,314 shares of company stock worth $589,361. 6.70% of the stock is owned by company insiders.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $27.19 on Friday. The business’s fifty day moving average is $22.08 and its 200-day moving average is $18.26. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -7.88 and a beta of 1.79. Nurix Therapeutics, Inc. has a one year low of $8.19 and a one year high of $27.35.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The company had revenue of $9.04 million for 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%. Research analysts expect that Nurix Therapeutics, Inc. will post -2.73 EPS 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.