Nurix Therapeutics, Inc. $NRIX Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Nurix Therapeutics by 11.1%, selling 397,863 shares, and now holds approximately 4.18% of the company.
• Nurix Therapeutics' stock has recently seen a 5.1% increase, with current trading around $10.14, despite challenges indicated by a negative net margin and an EPS forecast of -2.99.
• Analysts' ratings on Nurix Therapeutics vary, with thirteen giving it a "Buy" rating and price targets ranging from $16.00 to $36.00 following recent adjustments.

Wellington Management Group LLP lowered its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 11.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,188,742 shares of the company's stock after selling 397,863 shares during the period. Wellington Management Group LLP owned approximately 4.18% of Nurix Therapeutics worth $37,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in NRIX. Raymond James Financial Inc. acquired a new stake in shares of Nurix Therapeutics during the 4th quarter worth approximately $1,026,000. Barclays PLC increased its holdings in shares of Nurix Therapeutics by 16.4% during the 4th quarter. Barclays PLC now owns 149,336 shares of the company's stock worth $2,814,000 after buying an additional 20,992 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Nurix Therapeutics during the 4th quarter worth approximately $2,560,000. Dimensional Fund Advisors LP increased its holdings in shares of Nurix Therapeutics by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 506,839 shares of the company's stock worth $9,548,000 after buying an additional 5,270 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Nurix Therapeutics by 20.7% during the 4th quarter. MetLife Investment Management LLC now owns 42,539 shares of the company's stock worth $801,000 after buying an additional 7,300 shares during the last quarter.

Nurix Therapeutics Stock Up 5.1%

NASDAQ:NRIX opened at $10.14 on Monday. The company has a fifty day simple moving average of $11.41 and a two-hundred day simple moving average of $12.02. The company has a market cap of $775.20 million, a price-to-earnings ratio of -3.89 and a beta of 2.14. 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 posted its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.27. The business had revenue of $44,056 billion during the quarter, compared to the consensus estimate of $16.26 million. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NRIX shares. 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 dropped their target price on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, July 10th. Oppenheimer reiterated an "outperform" rating and issued a $30.00 target price (down previously from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Morgan Stanley set a $16.00 target price on shares of Nurix Therapeutics and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Nurix Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $28.87.

Insiders Place Their Bets

In related news, insider Gwenn Hansen sold 4,308 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were 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. The trade was a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 5,402 shares of the business's stock in a transaction 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 owned 35,512 shares of the company's stock, valued at approximately $391,697.36. The trade was a 13.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,014 shares of company stock valued at $163,014. Insiders own 7.40% of the company's stock.

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.

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