Amova Asset Management Americas Inc. Has $24.48 Million Stock Holdings in Nurix Therapeutics, Inc. $NRIX

Key Points

• Amova Asset Management Americas cut its Nurix Therapeutics stake by 17.1% in the fourth quarter, but still held 1.29 million shares worth about $24.48 million.
• Several other large investors increased their positions, including Deutsche Bank, Goldman Sachs, and Geode Capital, suggesting continued institutional interest in NRIX.
• Nurix posted a wider-than-expected loss and weaker revenue in its latest earnings report, while analysts remain mostly bullish with a Moderate Buy consensus and average price target of $32.14.

Amova Asset Management Americas Inc. reduced its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 17.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,290,554 shares of the company's stock after selling 266,925 shares during the period. Amova Asset Management Americas Inc. owned about 1.25% of Nurix Therapeutics worth $24,482,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Deutsche Bank AG lifted its stake in Nurix Therapeutics by 72.8% in the 4th quarter. Deutsche Bank AG now owns 2,486,792 shares of the company's stock valued at $47,174,000 after purchasing an additional 1,047,933 shares during the last quarter. TD Asset Management Inc acquired a new stake in Nurix Therapeutics in the 4th quarter valued at about $4,500,000. Goldman Sachs Group Inc. lifted its stake in Nurix Therapeutics by 73.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,077,573 shares of the company's stock valued at $20,442,000 after purchasing an additional 455,274 shares during the last quarter. Geode Capital Management LLC lifted its stake in Nurix Therapeutics by 26.7% in the 4th quarter. Geode Capital Management LLC now owns 2,384,998 shares of the company's stock valued at $45,250,000 after purchasing an additional 502,316 shares during the last quarter. Finally, PSP Research LLC acquired a new stake in Nurix Therapeutics in the 4th quarter valued at about $545,000.

Insider Buying and Selling

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

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $15.64 on Wednesday. Nurix Therapeutics, Inc. has a 12 month low of $8.19 and a 12 month high of $22.50. The firm's 50 day moving average is $16.35 and its 200-day moving average is $16.91. The stock has a market capitalization of $1.62 billion, a PE ratio of -4.95 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.03). The business had revenue of $6.25 million for the quarter, compared to the consensus estimate of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. Equities research analysts predict that Nurix Therapeutics, Inc. will post -2.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NRIX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Truist Financial raised their price objective on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday. Needham & Company LLC raised their price objective on shares of Nurix Therapeutics from $26.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and cut their price objective for the stock from $28.00 to $25.00 in a research report on Monday. Finally, BTIG Research raised their price objective on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nurix Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $32.14.

More Nurix Therapeutics News

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Roche’s collaboration with Nurix on bexobrutideg includes $700 million upfront and up to $2.3 billion in total payments, signaling strong external validation of Nurix’s pipeline and creating a meaningful funding source. Reuters article
• Positive Sentiment: The deal expands bexobrutideg’s development into blood cancers, immunology, and neurology, increasing the drug’s addressable market and upside potential for Nurix. Company release
• Positive Sentiment: Multiple analysts raised price targets following the announcement, with BTIG, Jefferies, and Needham all reiterating buy ratings and higher targets, reinforcing bullish sentiment around NRIX. Analyst update
• Neutral Sentiment: Recent commentary noted that short interest was reported at 0 shares, which does not provide a meaningful signal for the stock’s near-term direction.
• Negative Sentiment: Wells Fargo downgraded Nurix Therapeutics to “hold” from “overweight” and trimmed its price target, creating a small offset to the otherwise very upbeat news flow. Analyst downgrade

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.