Rhenman & Partners Asset Management AB Increases Stock Position in Nurix Therapeutics, Inc. $NRIX

Key Points

• Rhenman & Partners Asset Management boosted its Nurix Therapeutics stake by 54.7% in Q4, ending with 537,500 shares valued at about $10.2 million.
• Insider selling continued, with both Gwenn Hansen and CFO Houte Hans Van selling shares; over the last 90 days, insiders sold 19,657 shares worth $326,586.
• Wall Street sentiment is mixed but mostly positive: the stock has a consensus rating of “Moderate Buy” with an average price target of $32.14, though Wells Fargo downgraded it to hold while other firms raised targets.

Rhenman & Partners Asset Management AB increased its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 54.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 537,500 shares of the company's stock after purchasing an additional 190,000 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.52% of Nurix Therapeutics worth $10,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after purchasing an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics during the 4th quarter valued at $31,000. Wexford Capital LP bought a new position in Nurix Therapeutics during the 3rd quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Nurix Therapeutics by 66.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company's stock valued at $93,000 after acquiring an additional 1,970 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Nurix Therapeutics by 118.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock valued at $73,000 after acquiring an additional 3,475 shares during the last quarter.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,214 shares of the firm'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 transaction of $53,513.10. Following the completion of the sale, the insider directly owned 120,399 shares in the company, valued at approximately $2,004,643.35. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the firm'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 transaction of $233,313.00. Following the sale, the chief financial officer owned 37,592 shares of the company's stock, valued at approximately $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 19,657 shares of company stock valued at $326,586. 6.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on NRIX. Needham & Company LLC increased their price objective on shares of Nurix Therapeutics from $26.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. Wells Fargo & Company lowered shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and reduced their price target for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Truist Financial lifted their price objective on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Jefferies Financial Group raised their target price on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.14.

Nurix Therapeutics Stock Performance

NRIX stock opened at $16.95 on Friday. The stock has a market cap of $1.75 billion, a P/E ratio of -5.36 and a beta of 1.86. The firm has a 50 day simple moving average of $16.42 and a 200 day simple moving average of $16.92. Nurix Therapeutics, Inc. has a 52 week low of $8.19 and a 52 week high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.03). The company had revenue of $6.25 million for the quarter, compared to analyst estimates of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. Sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.88 EPS for the current year.

About Nurix Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.