Candriam S.C.A. Sells 45,695 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Candriam S.C.A. reduced its stake in Nurix Therapeutics by 7.2%, selling 45,695 shares and retaining 588,931 shares worth approximately $6.99 million.
• Insiders at Nurix Therapeutics, including CFO Houte Hans Van, sold shares, resulting in the CFO reducing his holdings by 13.20%.
• Analysts maintain a positive outlook on Nurix, with the average target price at $28.87 and several firms giving "buy" ratings despite some recent price target adjustments.

Candriam S.C.A. trimmed its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 7.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 588,931 shares of the company's stock after selling 45,695 shares during the quarter. Candriam S.C.A. owned approximately 0.77% of Nurix Therapeutics worth $6,997,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ARK Investment Management LLC grew its holdings in shares of Nurix Therapeutics by 4.0% in 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. Hussman Strategic Advisors Inc. purchased a new position in shares of Nurix Therapeutics during the first quarter valued at $499,000. RA Capital Management L.P. purchased a new position in shares of Nurix Therapeutics during the fourth quarter valued at $25,120,000. Ensign Peak Advisors Inc grew its holdings in shares of Nurix Therapeutics by 108.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 374,673 shares of the company's stock valued at $7,059,000 after buying an additional 194,673 shares in the last quarter. Finally, Velan Capital Investment Management LP purchased a new position in shares of Nurix Therapeutics during the fourth quarter valued at $1,844,000.

Nurix Therapeutics Trading Up 1.2%

NRIX traded up $0.12 on Wednesday, hitting $9.65. 104,937 shares of the stock traded hands, compared to its average volume of 856,505. Nurix Therapeutics, Inc. has a 52 week low of $8.18 and a 52 week high of $29.56. The firm has a market capitalization of $737.36 million, a PE ratio of -3.70 and a beta of 2.14. The business has a fifty day moving average price of $11.33 and a two-hundred day moving average price of $11.93.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $44,056 billion for the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. On average, equities research analysts forecast that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 4,308 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the transaction, the chief financial officer owned 35,512 shares of the company's stock, valued at approximately $391,697.36. This trade represents a 13.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,014 shares of company stock worth $163,014. 7.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NRIX. Morgan Stanley set a $16.00 price objective on Nurix Therapeutics and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating and issued a $30.00 price target (down previously from $32.00) on shares of Nurix Therapeutics in a research report on Thursday, July 31st. UBS Group reduced their price target on Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Finally, HC Wainwright reduced their price target on Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, July 14th. One equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.87.

Nurix Therapeutics Company Profile

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.