Amova Asset Management Americas Inc. Sells 109,408 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Amova Asset Management Americas reduced its Nurix Therapeutics stake by 8.5% in the first quarter, selling 109,408 shares and leaving it with 1.18 million shares worth about $18.3 million.
• Nurix Therapeutics drew a mixed analyst outlook: several firms raised price targets and maintained buy/outperform ratings, but Wells Fargo downgraded the stock to hold. Overall, the consensus rating remains Moderate Buy with an average target of $34.08.
• The company reported weaker-than-expected quarterly results, posting a loss of $0.81 per share on revenue of $9.04 million, below analyst estimates. Insider selling also continued, with CFO Houte Hans Van and insider Gwenn Hansen both selling shares in recent months.

Amova Asset Management Americas Inc. cut its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,181,146 shares of the company's stock after selling 109,408 shares during the quarter. Amova Asset Management Americas Inc. owned about 1.14% of Nurix Therapeutics worth $18,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NRIX. Larson Financial Group LLC lifted its stake 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 purchasing an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management acquired a new position in Nurix Therapeutics in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nurix Therapeutics during the 4th quarter valued at $33,000. KBC Group NV acquired a new position in shares of Nurix Therapeutics during the 1st quarter valued at $34,000. Finally, Wexford Capital LP bought a new position in Nurix Therapeutics during the third quarter worth $41,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial upped their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Jefferies Financial Group upped their price objective on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and decreased their target price for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. Finally, Mizuho upped their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.08.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $22.71 on Tuesday. Nurix Therapeutics, Inc. has a fifty-two week low of $8.19 and a fifty-two week high of $25.08. The business has a 50-day moving average of $19.22 and a 200 day moving average of $17.52. The firm has a market cap of $2.36 billion, a P/E ratio of -6.58 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The company had revenue of $9.04 million for the quarter, compared to analysts' expectations of $15.29 million. As a group, research analysts predict that Nurix Therapeutics, Inc. will post -2.82 earnings per share for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction 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 sale, the chief financial officer owned 37,592 shares of the company's stock, valued at $624,027.20. This represents a 27.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 firm'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 completion of the sale, the insider directly owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% 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. Over the last 90 days, insiders have sold 25,051 shares of company stock valued at $434,466. Company insiders own 6.70% of the company's stock.

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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