New York State Common Retirement Fund Boosts Stock Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Key Points

• The New York State Common Retirement Fund increased its position in Nurix Therapeutics by 148.6% in Q1, holding 52,688 shares valued at <$626,000 as of the latest SEC filing.
• Analysts have mixed ratings for Nurix Therapeutics, with a consensus rating of Moderate Buy and an average price target of $29.31.
• Nurix reported a quarterly EPS of ($0.52), exceeding estimates, while showing significant negative returns and a market cap of approximately $880.69 million.

New York State Common Retirement Fund raised its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 148.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,688 shares of the company's stock after purchasing an additional 31,493 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Nurix Therapeutics worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NRIX. Arizona State Retirement System lifted its holdings in Nurix Therapeutics by 8.7% during the first quarter. Arizona State Retirement System now owns 17,253 shares of the company's stock worth $205,000 after acquiring an additional 1,385 shares during the period. Bank of New York Mellon Corp lifted its holdings in Nurix Therapeutics by 7.4% during the first quarter. Bank of New York Mellon Corp now owns 205,078 shares of the company's stock worth $2,436,000 after acquiring an additional 14,173 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock worth $109,000 after acquiring an additional 2,562 shares during the period. Rhumbline Advisers lifted its holdings in Nurix Therapeutics by 7.0% during the first quarter. Rhumbline Advisers now owns 110,488 shares of the company's stock worth $1,313,000 after acquiring an additional 7,255 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Nurix Therapeutics by 202.2% during the first quarter. GAMMA Investing LLC now owns 14,018 shares of the company's stock worth $167,000 after acquiring an additional 9,380 shares during the period.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $38,835.50. Following the completion of the sale, the insider directly owned 61,516 shares in the company, valued at $707,434. The trade was a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.33, for a total value of $70,223.34. Following the completion of the transaction, the chief financial officer owned 33,724 shares of the company's stock, valued at $382,092.92. The trade was a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,013 shares of company stock valued at $137,096. 7.40% of the stock is currently owned by company insiders.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock traded down $0.16 during midday trading on Tuesday, hitting $11.78. 88,795 shares of the company's stock were exchanged, compared to its average volume of 881,989. Nurix Therapeutics, Inc. has a 52-week low of $8.18 and a 52-week high of $29.56. The stock has a 50-day moving average price of $11.69 and a two-hundred day moving average price of $13.20. The company has a market cap of $900.19 million, a P/E ratio of -4.51 and a beta of 2.15.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $44,056 billion during the quarter, compared to analyst estimates of $16.26 million. As a group, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NRIX has been the topic of a number of recent analyst reports. HC Wainwright dropped their price target on Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Wells Fargo & Company dropped their price target on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley set a $16.00 target price on Nurix Therapeutics and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Needham & Company LLC reissued a "buy" rating and issued a $27.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Finally, Stephens reissued an "overweight" rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $29.31.

About Nurix Therapeutics

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.