Nikko Asset Management Americas Inc. Sells 33,252 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Key Points

• Nikko Asset Management Americas Inc. reduced its holdings in Nurix Therapeutics by 4.2%, owning 755,970 shares valued at approximately $8.98 million after selling 33,252 shares in the first quarter.
• Nurix Therapeutics reported better-than-expected earnings of ($0.52) per share, outperforming analysts' consensus estimate of ($0.79), with revenues significantly exceeding estimates.
• Analysts have mixed ratings for Nurix Therapeutics, with price targets ranging from $16.00 to $36.00, indicating a consensus rating of "Moderate Buy" and an average target price of $29.31.

Nikko Asset Management Americas Inc. lessened its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 755,970 shares of the company's stock after selling 33,252 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.99% of Nurix Therapeutics worth $8,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NRIX. GF Fund Management CO. LTD. bought a new stake in shares of Nurix Therapeutics in the 4th quarter worth about $28,000. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics during the 4th quarter valued at $87,000. Exchange Traded Concepts LLC raised its position in Nurix Therapeutics by 38.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after purchasing an additional 2,562 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Nurix Therapeutics by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after purchasing an additional 877 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Nurix Therapeutics during the fourth quarter worth $164,000.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,198 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $11.33, for a total transaction of $70,223.34. Following the completion of the transaction, the chief financial officer owned 33,724 shares in the company, valued at approximately $382,092.92. This represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, July 10th. Stifel Nicolaus dropped their price objective on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. HC Wainwright decreased their price objective on Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, July 14th. Needham & Company LLC restated a "buy" rating and set a $27.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company decreased 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. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.31.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock traded up $0.21 on Wednesday, hitting $12.10. The company had a trading volume of 180,218 shares, compared to its average volume of 883,683. The firm has a market capitalization of $924.66 million, a P/E ratio of -4.64 and a beta of 2.15. Nurix Therapeutics, Inc. has a twelve month low of $8.18 and a twelve month high of $29.56. The stock has a 50-day moving average of $11.73 and a 200-day moving average of $13.19.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share 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 company had revenue of $44,056 billion during the quarter, compared to analysts' expectations of $16.26 million. Equities analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

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.