Russell Investments Group Ltd. Buys 93,993 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Russell Investments Group Ltd. increased its stake in Nurix Therapeutics by 263.0% during the first quarter, owning 129,738 shares valued at approximately $1.54 million.
• Nurix Therapeutics reported earnings of ($0.52) per share, exceeding analysts' estimates, with revenue of $44.06 million for the recent quarter.
• Insider trading activity was noted, with notable sales from CFO Hans Van Houte and insider Gwenn Hansen, indicating a decrease in their ownership of the company's stock.

Russell Investments Group Ltd. grew its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 263.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,738 shares of the company's stock after acquiring an additional 93,993 shares during the period. Russell Investments Group Ltd. owned 0.17% of Nurix Therapeutics worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $1,026,000. Barclays PLC increased its stake in Nurix Therapeutics by 16.4% in the fourth quarter. Barclays PLC now owns 149,336 shares of the company's stock valued at $2,814,000 after purchasing an additional 20,992 shares in the last quarter. First Trust Advisors LP bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $2,560,000. Dimensional Fund Advisors LP increased its stake in Nurix Therapeutics by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,839 shares of the company's stock valued at $9,548,000 after purchasing an additional 5,270 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Nurix Therapeutics by 20.7% in the fourth quarter. MetLife Investment Management LLC now owns 42,539 shares of the company's stock valued at $801,000 after purchasing an additional 7,300 shares in the last quarter.

Nurix Therapeutics Stock Down 2.5%

NRIX traded down $0.23 during trading hours on Tuesday, hitting $9.11. 1,225,471 shares of the company's stock were exchanged, compared to its average volume of 653,871. Nurix Therapeutics, Inc. has a 1-year low of $8.18 and a 1-year high of $29.56. The stock's 50-day moving average is $11.09 and its two-hundred day moving average is $11.65. The stock has a market cap of $696.46 million, a price-to-earnings ratio of -3.49 and a beta of 2.10.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $44.06 million for the quarter, compared to analyst estimates of $16.26 million. On average, equities research analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on NRIX shares. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a research note on Tuesday, August 26th. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Stephens reiterated an "overweight" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Oppenheimer restated an "outperform" rating and set a $30.00 target price (down previously from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Nurix Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $28.87.

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.