Ikarian Capital LLC Buys New Stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Ikarian Capital LLC bought a new stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 300,000 shares of the company’s stock, valued at approximately $4,410,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC raised 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 worth $176,000 after buying an additional 998 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Nurix Therapeutics by 3.7% in the first quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company’s stock worth $747,000 after acquiring an additional 1,820 shares during the period. Raymond James & Associates increased its stake in shares of Nurix Therapeutics by 3.1% in the fourth quarter. Raymond James & Associates now owns 101,006 shares of the company’s stock worth $1,042,000 after acquiring an additional 3,018 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Nurix Therapeutics by 67.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after acquiring an additional 3,793 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Nurix Therapeutics in the fourth quarter worth $59,000.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,477 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.45, for a total value of $74,581.65. Following the transaction, the chief financial officer now directly owns 51,002 shares in the company, valued at approximately $1,093,992.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Houte Hans Van sold 3,477 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.45, for a total value of $74,581.65. Following the transaction, the chief financial officer now directly owns 51,002 shares in the company, valued at approximately $1,093,992.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christine Ring sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the transaction, the insider now owns 19,838 shares in the company, valued at $337,444.38. The disclosure for this sale can be found here. Insiders have sold 24,791 shares of company stock worth $506,063 in the last ninety days. 7.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NRIX has been the topic of several analyst reports. Stifel Nicolaus restated a “buy” rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Truist Financial initiated coverage on shares of Nurix Therapeutics in a report on Wednesday. They issued a “buy” rating and a $36.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Robert W. Baird lifted their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Nurix Therapeutics Price Performance

NRIX traded down $0.41 on Thursday, reaching $21.47. 540,187 shares of the company’s stock were exchanged, compared to its average volume of 972,669. The stock has a market cap of $1.38 billion, a PE ratio of -7.35 and a beta of 2.22. Nurix Therapeutics, Inc. has a twelve month low of $4.22 and a twelve month high of $24.38. The stock’s fifty day moving average price is $19.21 and its 200-day moving average price is $14.76.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.08). The firm had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. As a group, research analysts predict that Nurix Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

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.