842,089 Shares in Nurix Therapeutics, Inc. $NRIX Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 842,089 shares of Nurix Therapeutics in the second quarter, worth approximately $20.4 million and representing a 0.81% stake.
• Nurix shares opened at $23.65, down 1.0%, after the company reported a quarterly loss of $0.81 per share and revenue of $9.04 million, both below analyst expectations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $34.21, although insiders have sold 21,372 shares worth about $518,000 over the past 90 days.

Bank of America Corp DE acquired a new stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 842,089 shares of the company's stock, valued at approximately $20,429,000. Bank of America Corp DE owned 0.81% of Nurix Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of NRIX. Larson Financial Group LLC grew its holdings in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after buying an additional 1,190 shares during the period. KBC Group NV acquired a new stake in Nurix Therapeutics during the 1st quarter worth $34,000. Caitong International Asset Management Co. Ltd acquired a new stake in Nurix Therapeutics during the 4th quarter worth $53,000. Avalon Trust Co acquired a new stake in Nurix Therapeutics during the 2nd quarter worth $64,000. Finally, Global Retirement Partners LLC bought a new position in Nurix Therapeutics during the second quarter worth about $82,000.

Nurix Therapeutics Trading Down 1.0%

NASDAQ:NRIX opened at $23.65 on Friday. The stock has a market capitalization of $2.45 billion, a PE ratio of -6.86 and a beta of 1.80. Nurix Therapeutics, Inc. has a 1-year low of $8.22 and a 1-year high of $28.23. The firm has a fifty day simple moving average of $25.34 and a 200 day simple moving average of $20.30.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The firm had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. On average, equities analysts predict that Nurix Therapeutics, Inc. will post -2.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NRIX has been the topic of a number of research analyst reports. 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 research report on Monday, June 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Jefferies Financial Group increased their target price on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Oppenheimer started coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They set an "outperform" rating and a $28.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.21.

Insider Activity at Nurix Therapeutics

In other news, CFO Hans van Houte sold 4,761 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total value of $36,982.44. Following the completion of the sale, the insider owned 117,227 shares in the company, valued at approximately $2,985,771.69. This trade represents a 1.22% 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. Insiders sold 21,372 shares of company stock worth $518,463 in the last 90 days. Corporate insiders own 6.70% of the company's stock.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the body's natural protein-disposal systems to treat cancer and other serious diseases. The company's approach centers on targeted protein modulation, including the use of small molecules to promote the degradation of disease-causing proteins or alter the activity of proteins involved in immune responses.

Nurix's technology platform is built around E3 ligases, enzymes that help determine which proteins are marked for destruction inside cells.

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