Affinity Asset Advisors LLC Decreases Stake in Nurix Therapeutics, Inc. $NRIX

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 first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 810,669 shares of the company's stock after selling 129,414 shares during the period. Nurix Therapeutics makes up about 0.9% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 24th largest position. Affinity Asset Advisors LLC owned 1.06% of Nurix Therapeutics worth $9,631,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NRIX. The Manufacturers Life Insurance Company boosted its stake in shares of Nurix Therapeutics by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company's stock valued at $585,000 after purchasing an additional 642 shares during the period. Arizona State Retirement System boosted its stake in shares of Nurix Therapeutics by 8.7% during the first quarter. Arizona State Retirement System now owns 17,253 shares of the company's stock valued at $205,000 after purchasing an additional 1,385 shares during the period. Jump Financial LLC boosted its stake in shares of Nurix Therapeutics by 1.9% during the first quarter. Jump Financial LLC now owns 76,060 shares of the company's stock valued at $904,000 after purchasing an additional 1,441 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at $28,000. Finally, Woodline Partners LP boosted its stake in shares of Nurix Therapeutics by 0.5% during the fourth quarter. Woodline Partners LP now owns 338,462 shares of the company's stock valued at $6,377,000 after purchasing an additional 1,583 shares during the period.

Insider Activity

In other news, CFO Houte Hans Van sold 5,402 shares of the company's stock in a transaction dated 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. 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 stock in a transaction that occurred 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 completion of the transaction, the insider owned 69,023 shares in the company, valued at approximately $828,966.23. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,014 shares of company stock worth $163,014. Corporate insiders own 7.40% of the company's stock.

Analysts Set New Price Targets

NRIX has been the subject of a number of recent analyst reports. Stephens reissued an "overweight" rating and set a $30.00 target price on shares of Nurix Therapeutics in a research note on Thursday, July 10th. Morgan Stanley set a $16.00 price objective on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. HC Wainwright lowered their price objective on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, July 14th. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, 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 note on Thursday, July 10th. 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.87.

Nurix Therapeutics Price Performance

Shares of NRIX stock traded down $0.07 during mid-day trading on Friday, hitting $9.34. 1,832,002 shares of the stock traded hands, compared to its average volume of 610,933. The stock has a market cap of $714.04 million, a P/E ratio of -3.58 and a beta of 2.14. The stock's fifty day moving average is $11.20 and its two-hundred day moving average is $11.77. Nurix Therapeutics, Inc. has a 52-week low of $8.18 and a 52-week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) 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 $44.06 million during the quarter, compared to analyst estimates of $16.26 million. As a group, equities analysts forecast that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal 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.