Elmind Capital LP Takes $11.16 Billion Position in Nurix Therapeutics, Inc. $NRIX

Elmind Capital LP purchased a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the second quarter, Holdings Channel.com reports. The firm purchased 460,000 shares of the company’s stock, valued at approximately $11,159,600,000. Nurix Therapeutics comprises about 2.8% of Elmind Capital LP’s investment portfolio, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of NRIX. BlackRock Inc. purchased a new position in Nurix Therapeutics in the second quarter valued at about $212,769,000. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth about $92,899,000. Morgan Stanley lifted its holdings in shares of Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after buying an additional 2,620,323 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Nurix Therapeutics in the 4th quarter valued at approximately $46,930,000. Finally, Braidwell LP acquired a new position in Nurix Therapeutics in the fourth quarter worth approximately $41,428,000.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 4,761 shares of the stock in a transaction on Tuesday, August 4th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total transaction of $108,900.00. Following the transaction, the insider owned 117,227 shares in the company, valued at approximately $2,930,675. The trade was a 3.58% 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. Insiders sold 25,314 shares of company stock valued at $589,361 over the last three months. 6.70% of the stock is owned by company insiders.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $26.95 on Wednesday. The company has a market capitalization of $2.80 billion, a PE ratio of -7.81 and a beta of 1.79. Nurix Therapeutics, Inc. has a one year low of $8.19 and a one year high of $28.23. The company’s fifty day moving average price is $23.82 and its 200 day moving average price is $18.79.

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 business had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. Analysts anticipate that Nurix Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NRIX has been the subject of a number of analyst reports. Oppenheimer started coverage on shares of Nurix Therapeutics in a research note on Monday, June 29th. They issued an “outperform” rating and a $28.00 target price for the company. Truist Financial upped their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Robert W. Baird boosted their price target 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, Mizuho upped their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Thirteen equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

Nurix Therapeutics 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.