Nurix Therapeutics, Inc. $NRIX Shares Sold by Commodore Capital LP

Key Points

• Commodore Capital LP cut its stake in Nurix Therapeutics by 39.8% in the fourth quarter, selling 1.5 million shares and leaving it with 2.275 million shares valued at about $43.2 million.
• Analysts remain mostly constructive on NRIX, with several firms raising price targets; the stock currently carries a Moderate Buy consensus and an average target price of $32.14.
• Nurix reported a quarterly earnings miss, posting an EPS loss of $0.79 versus expectations of $0.76 and revenue of $6.25 million versus the $14.25 million forecast, while insiders also sold shares during the period.

Commodore Capital LP lowered its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,275,000 shares of the company's stock after selling 1,505,055 shares during the quarter. Nurix Therapeutics accounts for 2.9% of Commodore Capital LP's holdings, making the stock its 16th largest holding. Commodore Capital LP owned 2.21% of Nurix Therapeutics worth $43,157,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NRIX. Larson Financial Group LLC raised its holdings in Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after buying an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management purchased a new position in Nurix Therapeutics during the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nurix Therapeutics during the fourth quarter valued at about $33,000. Wexford Capital LP acquired a new stake in shares of Nurix Therapeutics during the third quarter valued at about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nurix Therapeutics by 66.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company's stock valued at $93,000 after acquiring an additional 1,970 shares during the period.

Analysts Set New Price Targets

NRIX has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Needham & Company LLC restated a "buy" rating and set a $34.00 price target on shares of Nurix Therapeutics in a research note on Monday. BTIG Research raised their price target on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. HC Wainwright reiterated a "buy" rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, June 10th. Finally, Wells Fargo & Company lowered Nurix Therapeutics from an "overweight" rating to a "hold" rating and decreased their target price for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $17.12 on Thursday. The stock's 50-day moving average is $16.51 and its two-hundred day moving average is $16.91. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $22.50. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -5.42 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The company had revenue of $6.25 million during the quarter, compared to analysts' expectations of $14.25 million. Equities research analysts anticipate that Nurix Therapeutics, Inc. will post -2.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the transaction, the chief financial officer owned 37,592 shares in the company, valued at $624,027.20. The trade was a 27.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the sale, the insider directly owned 120,399 shares in the company, valued at approximately $2,004,643.35. This represents a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 19,657 shares of company stock valued at $326,586 in the last quarter. 6.70% of the stock is owned by insiders.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company's pipeline includes multiple programs in various stages of development.

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