Nurix Therapeutics, Inc. $NRIX Holdings Decreased by Affinity Asset Advisors LLC

Key Points

• Affinity Asset Advisors LLC reduced its stake in Nurix Therapeutics by 13.8%, now holding approximately 810,669 shares valued at $9.63 million.
• In contrast, other institutional investors such as Vanguard Group and Soleus Capital Management increased their positions in Nurix, with Vanguard owning over 4.4 million shares after a 1.6% increase during the first quarter.
• Nurix Therapeutics reported a quarterly EPS of -$0.52, beating expectations while achieving revenue of $44.056 billion, significantly surpassing the consensus estimate of $16.26 million.

Affinity Asset Advisors LLC decreased its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 810,669 shares of the company's stock after selling 129,414 shares during the period. Nurix Therapeutics accounts for about 0.9% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 24th largest holding. Affinity Asset Advisors LLC owned 1.06% of Nurix Therapeutics worth $9,631,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NRIX. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics in the fourth quarter worth about $28,000. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics in the fourth quarter valued at approximately $87,000. BNP Paribas Financial Markets bought a new position in Nurix Therapeutics in the fourth quarter valued at approximately $164,000. Exchange Traded Concepts LLC boosted its position in shares of 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 purchasing an additional 2,562 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of Nurix Therapeutics during the first quarter worth $122,000.

Nurix Therapeutics Price Performance

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

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.79) by $0.27. The business had revenue of $44.06 million during the quarter, compared to the consensus estimate of $16.26 million. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. As a group, analysts forecast that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction, the insider owned 69,023 shares of the company's stock, valued at $828,966.23. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $59,584.06. Following the completion of the sale, the chief financial officer owned 35,512 shares in the company, valued at $391,697.36. This represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,014 shares of company stock valued at $163,014. 7.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NRIX. Oppenheimer reissued an "outperform" rating and issued a $30.00 price objective (down previously from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. Stephens reaffirmed an "overweight" rating and set a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. HC Wainwright cut their price target on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, July 14th. 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. 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 research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.