ARK Investment Management LLC Has $18.90 Million Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Key Points

• ARK Investment Management LLC increased its stake in Nurix Therapeutics by 4%, holding approximately $18.90 million worth of shares, totaling 1,590,910 shares after acquiring an additional 60,617 shares.
• Nurix Therapeutics reported a quarterly earnings per share (EPS) of ($0.52), exceeding analysts' expectations of ($0.79), with revenues reaching $44.06 million for the quarter.
• Analysts have given Nurix Therapeutics a consensus rating of "Moderate Buy", with an average target price of $29.31, after multiple brokerages recently adjusted their target prices and ratings.

ARK Investment Management LLC raised its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,590,910 shares of the company's stock after buying an additional 60,617 shares during the quarter. ARK Investment Management LLC owned approximately 2.09% of Nurix Therapeutics worth $18,900,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its holdings in shares of Nurix Therapeutics by 8.1% during the first quarter. TD Asset Management Inc now owns 42,420 shares of the company's stock valued at $504,000 after purchasing an additional 3,186 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Nurix Therapeutics during the first quarter valued at $224,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Nurix Therapeutics during the first quarter valued at $374,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Nurix Therapeutics during the first quarter valued at $499,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Nurix Therapeutics by 148.6% during the first quarter. New York State Common Retirement Fund now owns 52,688 shares of the company's stock valued at $626,000 after purchasing an additional 31,493 shares during the period.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.33, for a total value of $70,223.34. Following the completion of the sale, the chief financial officer owned 33,724 shares in the company, valued at approximately $382,092.92. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NRIX. UBS Group lowered their target price on Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Morgan Stanley set a $16.00 price objective on Nurix Therapeutics and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Needham & Company LLC reiterated a "buy" rating and set a $27.00 price target on shares of Nurix Therapeutics in a report on Tuesday, April 29th. Stifel Nicolaus reduced their price target on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen raised Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.31.

Nurix Therapeutics Trading Up 1.8%

NRIX stock traded up $0.21 during trading on Wednesday, hitting $12.10. The company had a trading volume of 198,315 shares, compared to its average volume of 883,834. The company has a fifty day moving average price of $11.73 and a two-hundred day moving average price of $13.19. The company has a market cap of $924.97 million, a P/E ratio of -4.62 and a beta of 2.15. Nurix Therapeutics, Inc. has a fifty-two week low of $8.18 and a fifty-two week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, topping analysts' consensus estimates of ($0.79) by $0.27. The company had revenue of $44,056 billion for the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Nurix Therapeutics Company 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.