Bank of America Corp DE Purchases 65,595 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Bank of America increased its Nurix Therapeutics position by 8.9%, purchasing 65,595 shares to hold 802,153 shares valued at approximately $12.4 million, or 0.78% of the company.
• Analyst sentiment remains positive overall, with 13 Buy ratings, one Hold, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $34.21 versus a recent price of $26.72.
• Nurix reported weaker-than-expected quarterly results, including an EPS loss of $0.81 versus the expected $0.73 loss and revenue of $9.04 million versus the $15.29 million forecast. Insiders have sold 25,314 shares worth about $589,000 over the past 90 days.

Bank of America Corp DE increased its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 802,153 shares of the company's stock after buying an additional 65,595 shares during the period. Bank of America Corp DE owned 0.78% of Nurix Therapeutics worth $12,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after buying an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics during the fourth quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Nurix Therapeutics in the fourth quarter worth $33,000. KBC Group NV acquired a new stake in Nurix Therapeutics in the first quarter worth $34,000. Finally, Wexford Capital LP bought a new stake in Nurix Therapeutics in the third quarter valued at $41,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NRIX shares. Royal Bank Of Canada upped their price objective on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Friday, July 17th. Wells Fargo & Company lowered Nurix Therapeutics from an "overweight" rating to a "hold" rating and lowered their target price for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. BTIG Research reiterated a "buy" rating and issued a $32.00 target price on shares of Nurix Therapeutics in a report on Friday, July 10th. Finally, Robert W. Baird lifted their price target on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Thirteen 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. According to data from MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $34.21.

Nurix Therapeutics Stock Performance

Shares of NRIX stock opened at $26.72 on Friday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -7.74 and a beta of 1.79. Nurix Therapeutics, Inc. has a 52-week low of $8.19 and a 52-week high of $28.23. The company has a 50-day simple moving average of $23.43 and a two-hundred day simple moving average of $18.64.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced 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). The business had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. On average, sell-side analysts forecast that Nurix Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 4,761 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total value of $108,900.00. Following the completion of the sale, the insider owned 117,227 shares in the company, valued at approximately $2,930,675. The trade was a 3.58% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 25,314 shares of company stock valued at $589,361. 6.70% of the stock is currently owned by company insiders.

Nurix Therapeutics 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.

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