Perceptive Advisors LLC Buys 2,139,728 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Perceptive Advisors LLC significantly increased its stake in Nurix Therapeutics, buying 2.14 million more shares in the fourth quarter and bringing its total holding to 3.56 million shares, or about 3.46% of the company.
• Insiders have been selling shares, including CFO Houte Hans Van and insider Gwenn Hansen, while company insiders collectively own about 6.7% of the stock.
• Nurix Therapeutics posted a weaker-than-expected quarter, missing EPS and revenue estimates, though several analysts remain bullish and the stock carries a consensus “Moderate Buy” rating with a $32.14 price target.

Perceptive Advisors LLC grew its stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 151.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,555,877 shares of the company's stock after purchasing an additional 2,139,728 shares during the period. Nurix Therapeutics comprises approximately 1.2% of Perceptive Advisors LLC's portfolio, making the stock its 26th biggest position. Perceptive Advisors LLC owned about 3.46% of Nurix Therapeutics worth $67,455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $33,000. Wexford Capital LP purchased a new position in shares of Nurix Therapeutics in the 3rd quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock worth $73,000 after buying an additional 3,475 shares during the last quarter.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 14,055 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the transaction, the chief financial officer owned 37,592 shares in the company, valued at approximately $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 company's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total value of $53,513.10. Following the completion of the transaction, the insider owned 120,399 shares in the company, valued at approximately $2,004,643.35. The trade was a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 19,657 shares of company stock worth $326,586. 6.70% of the stock is owned by company insiders.

Nurix Therapeutics Trading Up 0.3%

Nurix Therapeutics stock opened at $17.12 on Thursday. Nurix Therapeutics, Inc. has a 12 month low of $8.19 and a 12 month high of $22.50. The business's 50 day simple moving average is $16.51 and its 200 day simple moving average is $16.91. 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 posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) 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 firm had revenue of $6.25 million during the quarter, compared to analysts' expectations of $14.25 million. As a group, equities research analysts forecast that Nurix Therapeutics, Inc. will post -2.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NRIX shares. BTIG Research boosted their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Jefferies Financial Group boosted their target price on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Needham & Company LLC restated a "buy" rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research note on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Finally, Truist Financial boosted their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.14.

Nurix Therapeutics Profile

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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