Dimensional Fund Advisors LP Purchases 349,710 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Dimensional Fund Advisors increased its Nurix Therapeutics stake by 81.1%, purchasing 349,710 shares to own 780,696 shares, or 0.75% of the company, valued at approximately $12.1 million.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, one Hold and one Sell; the stock has a consensus “Moderate Buy” rating and an average price target of $34, above its reported $25.53 opening price.
• Nurix reported weaker-than-expected quarterly results, including an adjusted loss of $0.81 per share versus a $0.73 consensus loss and revenue of $9.04 million versus $15.29 million expected. Insiders sold 25,314 shares worth approximately $589,000 over the past three months.

Dimensional Fund Advisors LP grew its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 81.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 780,696 shares of the company's stock after buying an additional 349,710 shares during the period. Dimensional Fund Advisors LP owned 0.75% of Nurix Therapeutics worth $12,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after acquiring an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in Nurix Therapeutics during the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd acquired a new position in Nurix Therapeutics during the 4th quarter valued at about $33,000. KBC Group NV bought a new position in shares of Nurix Therapeutics in the 1st quarter valued at about $34,000. Finally, Wexford Capital LP bought a new position in shares of Nurix Therapeutics in the 3rd quarter valued at about $41,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NRIX shares. HC Wainwright lifted their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Wells Fargo & Company cut shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Monday, June 8th. Royal Bank Of Canada lifted their target price on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. UBS Group upped their target price on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Robert W. Baird increased their price target on Nurix Therapeutics from $26.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, June 18th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $25.53 on Friday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -7.40 and a beta of 1.79. The company's 50 day simple moving average is $21.26 and its 200 day simple moving average is $18.06. Nurix Therapeutics, Inc. has a fifty-two week low of $8.19 and a fifty-two week high of $25.89.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued 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 firm 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%. As a group, analysts predict that Nurix Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 4,761 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction 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. This trade represents a 10.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of Nurix Therapeutics 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 transaction, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% 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. Insiders sold a total of 25,314 shares of company stock valued at $589,361 in the last three months. 6.70% of the stock is owned by company insiders.

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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