Legal & General Group Plc Buys Shares of 72,026 Nurix Therapeutics, Inc. $NRIX

Key Points

• Legal & General Group Plc acquired 72,026 shares of Nurix Therapeutics worth approximately $1.75 million, representing about 0.07% of the company; several other institutional investors also initiated or increased positions.
• Nurix reported weaker-than-expected quarterly results, with an adjusted loss of $0.81 per share versus the $0.73 consensus estimate and revenue of $9.04 million versus $15.29 million expected. Insiders sold 26,766 shares worth $626,343 during the last quarter, largely under pre-arranged trading plans.
• Despite the earnings shortfall, analysts remain broadly positive: 13 of 15 analysts rate the stock a Buy, producing a “Moderate Buy” consensus and a $34.21 average price target versus a recent price of $26.14.

Legal & General Group Plc purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,026 shares of the company's stock, valued at approximately $1,747,000. Legal & General Group Plc owned approximately 0.07% of Nurix Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after buying an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management acquired a new position in Nurix Therapeutics during the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Nurix Therapeutics during the 4th quarter valued at about $33,000. KBC Group NV purchased a new position in Nurix Therapeutics during the 1st quarter valued at about $34,000. Finally, Avalon Trust Co acquired a new position in Nurix Therapeutics in the 2nd quarter valued at about $64,000.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 5,394 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the sale, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. This trade represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of Nurix Therapeutics 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 directly owned 40,166 shares of the company's stock, valued at approximately $978,443.76. This trade represents a 10.60% 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 a total of 26,766 shares of company stock valued at $626,343 in the last quarter. 6.70% of the stock is currently owned by company insiders.

Nurix Therapeutics Price Performance

NRIX stock opened at $26.14 on Monday. The business's 50-day moving average is $24.91 and its two-hundred day moving average is $19.36. The firm has a market capitalization of $2.71 billion, a P/E ratio of -7.58 and a beta of 1.80. Nurix Therapeutics, Inc. has a 1 year low of $8.19 and a 1 year high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.08). The company had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho boosted their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Truist Financial lifted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a "buy" rating in a report on Friday, July 10th. Stifel Nicolaus upped their target price on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Robert W. Baird increased their target price on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.21.

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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