Eventide Asset Management LLC Makes New $24.62 Million Investment in Nurix Therapeutics, Inc. $NRIX

Eventide Asset Management LLC purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,297,893 shares of the company’s stock, valued at approximately $24,621,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nurix Therapeutics by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock valued at $593,000 after buying an additional 5,286 shares during the period. Millennium Management LLC lifted its holdings in shares of Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after buying an additional 450,262 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Nurix Therapeutics by 9.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock valued at $6,029,000 after buying an additional 44,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Nurix Therapeutics by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock valued at $1,895,000 after buying an additional 12,817 shares during the period. Finally, Creative Planning acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at about $187,000.

Nurix Therapeutics Trading Down 0.2%

NASDAQ:NRIX opened at $16.95 on Friday. Nurix Therapeutics, Inc. has a 12 month low of $8.19 and a 12 month high of $22.50. The stock has a 50 day moving average of $16.42 and a two-hundred day moving average of $16.92. The firm has a market cap of $1.75 billion, a P/E ratio of -5.36 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The firm had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $14.25 million. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

NRIX has been the subject of several recent analyst reports. Truist Financial lifted their price target on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Jefferies Financial Group lifted their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Needham & Company LLC lifted their price target on Nurix Therapeutics from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company lowered Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their price target for the company from $28.00 to $25.00 in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.14.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares in the company, valued at approximately $624,027.20. This represents a 27.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the transaction, the insider directly owned 120,399 shares in the company, valued at $2,004,643.35. This trade represents a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 19,657 shares of company stock valued at $326,586 over the last quarter. Company insiders own 6.70% of the company’s stock.

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.