Redmile Group LLC Has $48.14 Million Position in Nurix Therapeutics, Inc. $NRIX

Key Points

• Redmile Group LLC reduced its stake in Nurix Therapeutics by 3.4%, selling 140,700 shares, and now holds approximately 4,051,927 shares of the company.
• Insider trading included the sale of shares by CFO Houte Hans Van and others, resulting in significant reductions in their holdings, with insiders owning around 7.40% of the company.
• Equity analysts maintain a generally favorable outlook for Nurix Therapeutics, with a consensus price target of $28.87 and several ratings including "overweight" and "strong buy."

Redmile Group LLC lowered its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,051,927 shares of the company's stock after selling 140,700 shares during the period. Nurix Therapeutics comprises 4.5% of Redmile Group LLC's portfolio, making the stock its 5th largest holding. Redmile Group LLC owned approximately 5.31% of Nurix Therapeutics worth $48,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $28,000. Aquatic Capital Management LLC purchased a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $87,000. Exchange Traded Concepts LLC grew 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 purchasing an additional 2,562 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Nurix Therapeutics in the first quarter valued at approximately $122,000. Finally, BNP Paribas Financial Markets purchased a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $164,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. UBS Group lowered 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. Baird R W upgraded shares of Nurix Therapeutics to a "strong-buy" rating in a report on Tuesday, August 26th. Oppenheimer restated an "outperform" rating and issued a $30.00 target price (down from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. Finally, Stephens reiterated an "overweight" rating and set a $30.00 price objective on shares of Nurix Therapeutics in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.07.

Nurix Therapeutics Stock Up 8.7%

Shares of NASDAQ NRIX traded up $0.79 during trading on Friday, reaching $9.91. 831,891 shares of the stock were exchanged, compared to its average volume of 699,832. The business's 50-day moving average price is $10.95 and its 200 day moving average price is $11.49. Nurix Therapeutics, Inc. has a twelve month low of $8.18 and a twelve month high of $29.56. The company has a market capitalization of $757.61 million, a price-to-earnings ratio of -3.80 and a beta of 2.10.

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

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,308 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total value of $51,739.08. Following the sale, the insider directly owned 69,023 shares of the company's stock, valued at $828,966.23. This represents a 5.87% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $11.03, for a total transaction of $59,584.06. Following the completion of the sale, the chief financial officer directly owned 35,512 shares in the company, valued at $391,697.36. This represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,014 shares of company stock worth $163,014 over the last ninety days. 7.40% of the stock is currently owned by corporate insiders.

About Nurix Therapeutics

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.