Goldman Sachs Group Inc. Has $6.03 Million Position in Nurix Therapeutics, Inc. $NRIX

Key Points

• Goldman Sachs Group Inc. increased its stake in Nurix Therapeutics by 9.5% during Q1 2023, now holding approximately 0.67% of the company valued at $6.03 million.
• Nurix Therapeutics reported earnings of ($0.52) per share, surpassing analysts' expectations, with revenue reaching $44.06 million for the quarter, significantly exceeding the anticipated $16.26 million.
• Wall Street analysts have shown a generally positive outlook for Nurix, with Baird R W upgrading the stock to "strong-buy" and an average price target set around $29.07.

Goldman Sachs Group Inc. raised its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 507,471 shares of the company's stock after acquiring an additional 44,002 shares during the quarter. Goldman Sachs Group Inc. owned about 0.67% of Nurix Therapeutics worth $6,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Nurix Therapeutics during the 4th quarter valued at $28,000. BNP Paribas Financial Markets bought a new stake in Nurix Therapeutics during the 4th quarter valued at $164,000. Exchange Traded Concepts LLC raised its holdings in Nurix Therapeutics by 38.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after acquiring an additional 2,562 shares during the period. E Fund Management Co. Ltd. bought a new stake in Nurix Therapeutics during the 1st quarter valued at $122,000. Finally, Nomura Holdings Inc. bought a new position in shares of Nurix Therapeutics in the fourth quarter worth $198,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NRIX. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating and issued a $30.00 price target (down previously from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. UBS Group decreased their price target on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a report on Tuesday, August 26th. Finally, HC Wainwright decreased their price target on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $29.07.

Insider Activity

In other news, insider Gwenn Hansen sold 4,308 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total transaction of $51,739.08. Following the completion of the sale, the insider owned 69,023 shares of the company's stock, valued at approximately $828,966.23. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Houte Hans Van sold 5,402 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the transaction, the chief financial officer owned 35,512 shares in the company, valued at $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,014 shares of company stock worth $163,014. Insiders own 7.40% of the company's stock.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX traded down $0.53 during midday trading on Friday, hitting $8.44. The company's stock had a trading volume of 1,826,566 shares, compared to its average volume of 830,746. Nurix Therapeutics, Inc. has a 12-month low of $8.18 and a 12-month high of $29.56. The company has a market cap of $645.24 million, a P/E ratio of -3.23 and a beta of 2.10. The business's 50 day simple moving average is $10.26 and its 200 day simple moving average is $11.04.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The company had revenue of $44.06 million during the quarter, compared to the consensus estimate of $16.26 million. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal 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.