Walleye Capital LLC Buys New Position in Nurix Therapeutics, Inc. $NRIX

Key Points

• Walleye Capital LLC acquired a new position of 74,060 shares in Nurix Therapeutics, valued at approximately $880,000, representing 0.10% of the company.
• Nurix Therapeutics reported a revenue of $44.06 million for its most recent quarter, significantly surpassing analysts' estimates of $16.26 million, while also beating earnings per share estimates.
• Insider trading activity includes CFO Houte Hans Van selling 5,402 shares at an average price of $11.03, reducing their ownership by 13.20%.

Walleye Capital LLC acquired a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 74,060 shares of the company's stock, valued at approximately $880,000. Walleye Capital LLC owned about 0.10% of Nurix Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NRIX. Raymond James Financial Inc. acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth about $1,026,000. First Trust Advisors LP acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth about $2,560,000. Dimensional Fund Advisors LP grew its position in shares of Nurix Therapeutics by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 506,839 shares of the company's stock worth $9,548,000 after buying an additional 5,270 shares during the period. MetLife Investment Management LLC grew its position in shares of Nurix Therapeutics by 20.7% during the 4th quarter. MetLife Investment Management LLC now owns 42,539 shares of the company's stock worth $801,000 after buying an additional 7,300 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth about $226,000.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the completion of the transaction, the chief financial officer directly owned 35,512 shares in the company, valued at approximately $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gwenn Hansen sold 4,308 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value of $51,739.08. Following the transaction, the insider owned 69,023 shares of the company's stock, valued at $828,966.23. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,014 shares of company stock worth $163,014. Insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NRIX. Morgan Stanley set a $16.00 price objective on Nurix Therapeutics and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Oppenheimer reiterated an "outperform" rating and issued a $30.00 price objective (down from $32.00) on shares of Nurix Therapeutics in a research report on Thursday, July 31st. UBS Group decreased their price objective on Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, July 10th. Stephens reiterated an "overweight" rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $28.87.

Nurix Therapeutics Stock Down 3.8%

Shares of NASDAQ NRIX traded down $0.36 during trading hours on Thursday, hitting $9.10. The company had a trading volume of 250,069 shares, compared to its average volume of 862,108. The stock has a market capitalization of $695.69 million, a P/E ratio of -3.49 and a beta of 2.10. Nurix Therapeutics, Inc. has a 1-year low of $8.18 and a 1-year high of $29.56. The firm's 50 day moving average is $11.04 and its 200-day moving average is $11.64.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.27. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%.The company had revenue of $44.06 million during the quarter, compared to the consensus estimate of $16.26 million. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Nurix Therapeutics 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.