313,236 Shares in Nurix Therapeutics, Inc. $NRIX Acquired by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management acquired 313,236 Nurix Therapeutics shares worth approximately $7.6 million, while several other institutional investors also established new positions during the second quarter.
• Analysts remain broadly positive on NRIX, with 13 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $34.21 price target.
• NRIX shares opened at $26.95 and have risen 2.6%, but Nurix missed quarterly earnings and revenue expectations, reporting an $0.81 loss per share and $9.04 million in revenue.

ADAR1 Capital Management LLC acquired a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 313,236 shares of the company's stock, valued at approximately $7,599,000. ADAR1 Capital Management LLC owned 0.30% of Nurix Therapeutics at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Legal & General Group Plc acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $1,747,000. The Manufacturers Life Insurance Company acquired a new stake in Nurix Therapeutics during the 2nd quarter worth about $4,096,000. Polymer Capital Management HK LTD acquired a new stake in Nurix Therapeutics during the 2nd quarter worth about $1,429,000. EP Wealth Advisors LLC acquired a new stake in Nurix Therapeutics during the 2nd quarter worth about $214,000. Finally, Ieq Capital LLC purchased a new stake in Nurix Therapeutics during the 2nd quarter valued at about $252,000.

Insider Buying and Selling

In other news, insider Gwenn Hansen sold 5,394 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 115,005 shares in the company, valued at $2,300,100. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,314 shares of company stock valued at $589,361 in the last three months. Insiders own 6.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NRIX shares. Truist Financial raised their price objective on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Stifel Nicolaus increased their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Jefferies Financial Group raised their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, HC Wainwright upped their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a "buy" rating in a report on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.21.

Nurix Therapeutics Stock Up 2.6%

NRIX stock opened at $26.95 on Wednesday. The stock has a market capitalization of $2.80 billion, a P/E ratio of -7.81 and a beta of 1.79. The firm has a 50-day simple moving average of $23.82 and a 200-day simple moving average of $18.79. Nurix Therapeutics, Inc. has a 52 week low of $8.19 and a 52 week high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly 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 net margin of 928.44% and a negative return on equity of 76.09%. The company had revenue of $9.04 million during the quarter, compared to analysts' expectations of $15.29 million. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.73 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.

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