Pictet Asset Management Holding SA Acquires 1,487,060 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Pictet Asset Management boosted its stake in Nurix by 75.1% in Q4, buying 1,487,060 shares and now owns 3,467,600 shares (about 4.51%) worth roughly $65.78 million.
• Nurix reported quarterly EPS of ($0.79) (missing the ($0.76) estimate) and revenue of $6.25M versus a $14.25M consensus, with steep negative profitability metrics and analysts forecasting about −2.92 EPS for the year.
• The stock opened at $17.08 (market cap ~$1.77B), and analyst sentiment is mixed-to-positive with an average rating of "Moderate Buy" and an average price target of $30.46.

Pictet Asset Management Holding SA lifted its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 75.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,467,600 shares of the company's stock after buying an additional 1,487,060 shares during the period. Pictet Asset Management Holding SA owned approximately 4.51% of Nurix Therapeutics worth $65,780,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Nurix Therapeutics by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company's stock worth $593,000 after acquiring an additional 5,286 shares during the period. Millennium Management LLC grew its position in Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company's stock worth $10,388,000 after purchasing an additional 450,262 shares during the period. Goldman Sachs Group Inc. raised its stake in Nurix Therapeutics by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company's stock valued at $6,029,000 after buying an additional 44,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Nurix Therapeutics by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company's stock valued at $1,895,000 after buying an additional 12,817 shares during the period. Finally, Creative Planning purchased a new position in shares of Nurix Therapeutics in the 2nd quarter worth $187,000.

Nurix Therapeutics Trading Up 3.6%

Shares of NRIX opened at $17.08 on Wednesday. The business's 50 day moving average is $15.79 and its 200 day moving average is $15.98. Nurix Therapeutics, Inc. has a 12-month low of $8.19 and a 12-month high of $22.50. The company has a market capitalization of $1.77 billion, a PE ratio of -5.41 and a beta of 1.97.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.03). The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. Equities research analysts predict that Nurix Therapeutics, Inc. will post -2.92 earnings per share for the current year.

Analyst Ratings Changes

NRIX has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Nurix Therapeutics from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, January 29th. Royal Bank Of Canada raised their target price on Nurix Therapeutics from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Stifel Nicolaus boosted their price target on Nurix Therapeutics from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $30.46.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,895 shares of the business's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $81,257.00. Following the sale, the insider owned 83,672 shares in the company, valued at $1,388,955.20. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $60,772.60. Following the transaction, the chief financial officer directly owned 45,427 shares of the company's stock, valued at $754,088.20. This trade represents a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.70% of the stock is currently owned by corporate insiders.

Nurix Therapeutics Company 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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