Stempoint Capital LP Makes New Investment in Nurix Therapeutics, Inc. $NRIX

Stempoint Capital LP bought a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 315,226 shares of the company’s stock, valued at approximately $4,886,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. General Atlantic L.P. purchased a new position in Nurix Therapeutics during the fourth quarter worth about $92,899,000. Vanguard Group Inc. grew its position in Nurix Therapeutics by 32.5% in the 4th quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock worth $112,862,000 after purchasing an additional 1,460,736 shares in the last quarter. Baker BROS. Advisors LP increased its stake in Nurix Therapeutics by 20.0% in the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after buying an additional 776,431 shares during the last quarter. Flax Pond Capital LLC purchased a new stake in Nurix Therapeutics in the 4th quarter valued at about $1,521,000. Finally, Perceptive Advisors LLC lifted its position in shares of Nurix Therapeutics by 151.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,555,877 shares of the company’s stock worth $67,455,000 after buying an additional 2,139,728 shares in the last quarter.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction 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 sale, the insider directly owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NRIX has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. 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. Wells Fargo & Company lowered Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a report on Monday, June 8th. Robert W. Baird boosted their price objective on Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Morgan Stanley upped 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. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Nurix Therapeutics Stock Down 2.3%

NRIX opened at $23.60 on Thursday. Nurix Therapeutics, Inc. has a twelve month low of $8.19 and a twelve month high of $25.08. The company’s 50-day moving average price is $20.31 and its two-hundred day moving average price is $17.78. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -6.84 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results 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 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%. As a group, sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.82 earnings per share for the current 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.