Flax Pond Capital LLC Invests $1.52 Million in Nurix Therapeutics, Inc. $NRIX

Key Points

• Flax Pond Capital LLC opened a new position in Nurix Therapeutics, buying 80,200 shares worth about $1.52 million in the fourth quarter, equal to roughly 0.08% of the company.
• Several analysts remain constructive on the stock, with Truist, BTIG, and Jefferies raising price targets and maintaining buy ratings, though Wells Fargo downgraded it to hold. Overall, Nurix has a consensus rating of Moderate Buy with a $32.20 target.
• Nurix reported weaker-than-expected quarterly results, missing EPS and revenue estimates, while insiders have also been selling shares recently. The stock last traded at $17.55, below its 52-week high of $22.50 but above its low of $8.19.

Flax Pond Capital LLC purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 80,200 shares of the company's stock, valued at approximately $1,521,000. Flax Pond Capital LLC owned approximately 0.08% of Nurix Therapeutics at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after purchasing an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Nurix Therapeutics in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nurix Therapeutics in the 4th quarter valued at $33,000. Wexford Capital LP bought a new position in shares of Nurix Therapeutics in the 3rd quarter valued at $41,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Nurix Therapeutics by 66.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company's stock worth $93,000 after buying an additional 1,970 shares in the last quarter.

Analyst Ratings Changes

NRIX has been the subject of several recent analyst reports. Truist Financial upped their price objective on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. BTIG Research raised their target price on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and lowered their price target for the stock from $28.00 to $25.00 in a report on Monday, June 8th. Finally, Jefferies Financial Group increased their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Fourteen 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $17.55 on Friday. The business has a 50 day moving average of $16.57 and a 200-day moving average of $16.92. Nurix Therapeutics, Inc. has a 1 year low of $8.19 and a 1 year high of $22.50. The company has a market capitalization of $1.81 billion, a P/E ratio of -5.55 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. Equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.88 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,214 shares of the business's stock in a transaction 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 sale, the insider owned 120,399 shares of the company's stock, valued at $2,004,643.35. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value 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. The trade was a 27.21% 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 have sold 19,657 shares of company stock valued at $326,586 in the last ninety days. Insiders own 6.70% of the company's stock.

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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