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 trimmed its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 11.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,188,742 shares of the company's stock after selling 397,863 shares during the period. Wellington Management Group LLP owned about 4.18% of Nurix Therapeutics worth $37,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $28,000. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $87,000. Exchange Traded Concepts LLC raised its holdings in Nurix Therapeutics by 38.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after acquiring an additional 2,562 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Nurix Therapeutics in the first quarter valued at approximately $122,000. Finally, BNP Paribas Financial Markets acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $164,000.

Nurix Therapeutics Stock Down 0.7%

Nurix Therapeutics stock traded down $0.07 during mid-day trading on Friday, hitting $9.34. The company had a trading volume of 1,832,002 shares, compared to its average volume of 610,933. The stock has a market cap of $714.04 million, a price-to-earnings ratio of -3.58 and a beta of 2.14. Nurix Therapeutics, Inc. has a 1 year low of $8.18 and a 1 year high of $29.56. The business has a fifty day moving average of $11.20 and a 200 day moving average of $11.77.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.79) by $0.27. The business had revenue of $44.06 million for the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. Equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on NRIX shares. Oppenheimer reaffirmed 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. Stephens reaffirmed an "overweight" rating and issued a $30.00 target price 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 company an "equal weight" rating in a report on Tuesday, July 15th. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.87.

Insider Buying and Selling

In other news, insider Gwenn Hansen sold 4,308 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 69,023 shares in the company, valued at approximately $828,966.23. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Houte Hans Van sold 5,402 shares of the firm'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 owned 35,512 shares in the company, valued at approximately $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,014 shares of company stock worth $163,014. Insiders own 7.40% of the company's stock.

Nurix Therapeutics 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.