Driehaus Capital Management LLC Sells 563,751 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Driehaus Capital Management LLC significantly reduced its stake in Nurix Therapeutics by 44.1%, selling 563,751 shares, and now holds 715,940 shares valued at approximately $8.5 million.
• A variety of institutional investors, including Vanguard Group and Wellington Management Group, increased their positions in Nurix Therapeutics, with Vanguard now owning over 4.4 million shares.
• Analysts have mixed views on Nurix Therapeutics, with a consensus target price of $28.87, reflecting a range of ratings from "Strong Buy" to "Hold" among different research firms.

Driehaus Capital Management LLC cut its stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 44.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 715,940 shares of the company's stock after selling 563,751 shares during the period. Driehaus Capital Management LLC owned 0.94% of Nurix Therapeutics worth $8,505,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NRIX. ARK Investment Management LLC lifted its stake in Nurix Therapeutics by 4.0% in the first quarter. ARK Investment Management LLC now owns 1,590,910 shares of the company's stock valued at $18,900,000 after acquiring an additional 60,617 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Nurix Therapeutics in the 1st quarter valued at about $499,000. Vanguard Group Inc. lifted its stake in Nurix Therapeutics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company's stock valued at $52,452,000 after purchasing an additional 69,856 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Nurix Therapeutics by 108.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 374,673 shares of the company's stock worth $7,059,000 after purchasing an additional 194,673 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in Nurix Therapeutics by 2.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,428,283 shares of the company's stock worth $28,849,000 after buying an additional 47,855 shares during the last quarter.

Nurix Therapeutics Stock Performance

Shares of NRIX stock traded down $0.36 during trading on Thursday, hitting $9.11. The company had a trading volume of 273,284 shares, compared to its average volume of 862,186. The firm has a market capitalization of $696.07 million, a P/E ratio of -3.49 and a beta of 2.10. Nurix Therapeutics, Inc. has a one year low of $8.18 and a one year high of $29.56. The stock's 50-day moving average price is $11.04 and its 200 day moving average price is $11.64.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) earnings per share for the quarter, topping 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 analysts' expectations of $16.26 million. On average, research analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $30.00 price objective (down from $32.00) on shares of Nurix Therapeutics in a research report on Thursday, July 31st. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a research report on Tuesday, August 26th. Stephens reiterated an "overweight" rating and issued a $30.00 price objective 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 research note on Tuesday, July 15th. Finally, HC Wainwright decreased their price target on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.87.

Insider Activity

In other news, CFO Houte Hans Van sold 5,402 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $11.03, for a total transaction of $59,584.06. Following the transaction, the chief financial officer directly owned 35,512 shares of the company's stock, valued at $391,697.36. This represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gwenn Hansen sold 4,308 shares of Nurix Therapeutics stock in a transaction dated 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 of the company's stock, valued at $828,966.23. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,014 shares of company stock valued at $163,014. Insiders own 7.40% of the company's stock.

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.