Russell Investments Group Ltd. Acquires 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. lifted its stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 263.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,738 shares of the company's stock after purchasing an additional 93,993 shares during the quarter. 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 have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Nurix Therapeutics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company's stock worth $52,452,000 after acquiring an additional 69,856 shares during the last quarter. Wellington Management Group LLP grew its holdings in Nurix Therapeutics by 3.0% during the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company's stock worth $67,572,000 after acquiring an additional 104,500 shares during the last quarter. Soleus Capital Management L.P. grew its holdings in Nurix Therapeutics by 97.3% during the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after acquiring an additional 1,036,999 shares during the last quarter. ARK Investment Management LLC grew its holdings in Nurix Therapeutics by 4.0% during the 1st quarter. ARK Investment Management LLC now owns 1,590,910 shares of the company's stock worth $18,900,000 after acquiring an additional 60,617 shares during the last quarter. Finally, RA Capital Management L.P. bought a new stake in Nurix Therapeutics during the 4th quarter worth approximately $25,120,000.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX traded down $0.07 during midday trading on Friday, reaching $9.34. The stock had a trading volume of 1,832,002 shares, compared to its average volume of 610,933. Nurix Therapeutics, Inc. has a twelve month low of $8.18 and a twelve month high of $29.56. The company's 50 day moving average price is $11.20 and its 200 day moving average price is $11.81. The firm has a market cap of $714.04 million, a price-to-earnings ratio of -3.58 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $16.26 million. Equities analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 5,402 shares of the business'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 transaction, the chief financial officer owned 35,512 shares in the company, valued at $391,697.36. The trade was a 13.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gwenn Hansen sold 4,308 shares of the business's stock in a transaction 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 transaction, the insider owned 69,023 shares in the company, valued at $828,966.23. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,014 shares of company stock worth $163,014 in the last quarter. 7.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NRIX shares. Stephens reissued an "overweight" rating and set a $30.00 target price on shares of Nurix Therapeutics in a report on Thursday, July 10th. Morgan Stanley set a $16.00 target price on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a report on Tuesday. UBS Group dropped their price target on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Nurix Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price 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.