Point72 Asset Management L.P. Buys Shares of 872,959 Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Point72 Asset Management L.P. purchased a new stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 872,959 shares of the company's stock, valued at approximately $16,447,000. Point72 Asset Management L.P. owned about 1.15% of Nurix Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Nurix Therapeutics by 85.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock valued at $1,531,000 after acquiring an additional 31,352 shares during the period. Jump Financial LLC purchased a new position in shares of Nurix Therapeutics in the fourth quarter worth about $1,406,000. Barclays PLC raised its position in shares of Nurix Therapeutics by 77.9% in the third quarter. Barclays PLC now owns 128,344 shares of the company's stock valued at $2,884,000 after purchasing an additional 56,190 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Nurix Therapeutics by 42.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company's stock valued at $14,869,000 after purchasing an additional 235,971 shares during the period. Finally, Affinity Asset Advisors LLC boosted its holdings in shares of Nurix Therapeutics by 9.3% in the fourth quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock worth $17,711,000 after acquiring an additional 79,684 shares during the period.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 6,198 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.33, for a total transaction of $70,223.34. Following the sale, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at approximately $382,092.92. This represents a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $38,835.50. Following the completion of the transaction, the insider now directly owns 61,516 shares of the company's stock, valued at $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,838 shares of company stock valued at $221,500 in the last ninety days. 7.40% of the stock is currently owned by corporate insiders.

Nurix Therapeutics Trading Down 2.7%

Shares of NRIX stock traded down $0.27 during midday trading on Friday, reaching $9.73. 94,691 shares of the stock were exchanged, compared to its average volume of 870,536. Nurix Therapeutics, Inc. has a 1 year low of $8.18 and a 1 year high of $29.56. The firm has a market cap of $741.40 million, a PE ratio of -3.37 and a beta of 2.23. The company's 50 day moving average is $10.75 and its two-hundred day moving average is $16.50.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.05. The company had revenue of $18.45 million for the quarter, compared to analysts' expectations of $12.78 million. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. During the same period in the prior year, the firm earned ($0.76) earnings per share. As a group, equities analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NRIX. HC Wainwright reaffirmed a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Morgan Stanley boosted their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Finally, Leerink Partnrs raised Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.44.

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.