Man Group plc Buys Shares of 85,583 Nurix Therapeutics, Inc. $NRIX

Man Group plc bought a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 85,583 shares of the company’s stock, valued at approximately $2,076,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. General Atlantic L.P. acquired a new position in Nurix Therapeutics in the fourth quarter worth approximately $92,899,000. Trails Edge Capital Partners LP bought a new position in Nurix Therapeutics during the second quarter valued at approximately $38,166,318. Vanguard Group Inc. lifted its stake in Nurix Therapeutics by 32.5% in the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after acquiring an additional 1,460,736 shares during the last quarter. Baker BROS. Advisors LP lifted its stake in Nurix Therapeutics by 20.0% in the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after acquiring an additional 776,431 shares during the last quarter. Finally, Stempoint Capital LP bought a new stake in Nurix Therapeutics in the first quarter worth approximately $4,886,000.

Insider Activity

In related news, CFO Houte Hans Van sold 4,761 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares in the company, valued at $978,443.76. This represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total value of $36,982.44. Following the sale, the insider owned 117,227 shares of the company’s stock, valued at approximately $2,985,771.69. The trade was a 1.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 26,766 shares of company stock worth $626,343. 6.70% of the stock is currently owned by company insiders.

Nurix Therapeutics Trading Up 1.0%

Shares of Nurix Therapeutics stock opened at $26.04 on Wednesday. The firm has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $19.14. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $28.23. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -7.55 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The firm had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. As a group, research analysts predict that Nurix Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on NRIX shares. Oppenheimer started coverage on shares of Nurix Therapeutics in a research note on Monday, June 29th. They set an “outperform” rating and a $28.00 price target on the stock. BTIG Research reiterated a “buy” rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a report on Friday, July 10th. Robert W. Baird increased their target price on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Royal Bank Of Canada raised their target price on Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Truist Financial upped their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

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.