Alyeska Investment Group L.P. Takes $3.35 Million Position in Nurix Therapeutics, Inc. $NRIX

Key Points

• Alyeska Investment Group acquired 138,122 shares of Nurix Therapeutics worth approximately $3.35 million, joining several other institutional investors that added to their NRIX positions during the second quarter.
• Analysts remain broadly positive, with 13 Buy ratings, one Hold, and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $34.21.
• NRIX recently traded at $26.04, but Nurix reported a quarterly loss of $0.81 per share and $9.04 million in revenue, missing analyst estimates for both earnings and sales. Insiders have also sold 26,766 shares worth about $626,343 over the past 90 days.

Alyeska Investment Group L.P. acquired a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 138,122 shares of the company's stock, valued at approximately $3,351,000. Alyeska Investment Group L.P. owned 0.13% of Nurix Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRIX. Cookson Peirce & Co. Inc. acquired a new position in Nurix Therapeutics in the second quarter valued at about $558,000. Penn Capital Management Company LLC acquired a new stake in shares of Nurix Therapeutics during the second quarter worth about $800,000. Wellington Management Group LLP lifted its holdings in shares of Nurix Therapeutics by 4.0% during the 2nd quarter. Wellington Management Group LLP now owns 334,138 shares of the company's stock valued at $8,106,000 after purchasing an additional 12,778 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at about $20,429,000. Finally, Man Group plc acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $2,076,000.

Wall Street Analysts Forecast Growth

NRIX has been the topic of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Truist Financial upped their price target 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. Stifel Nicolaus raised their price objective 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.21.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 4,761 shares of Nurix Therapeutics stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the sale, the chief financial officer owned 40,166 shares of the company's stock, valued at approximately $978,443.76. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the company's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the sale, the insider owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% 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. Over the last 90 days, insiders have sold 26,766 shares of company stock valued at $626,343. Company insiders own 6.70% of the company's stock.

Nurix Therapeutics Stock Up 1.0%

NASDAQ NRIX opened at $26.04 on Wednesday. The firm's 50 day moving average is $24.65 and its 200-day moving average is $19.14. The company has a market capitalization of $2.70 billion, a PE ratio of -7.55 and a beta of 1.80. Nurix Therapeutics, Inc. has a 12-month low of $8.19 and a 12-month high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The business 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%. As a group, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.73 EPS for the current year.

About Nurix Therapeutics

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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