Sumitomo Mitsui Trust Group Inc. Sells 266,925 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Nurix Therapeutics by 17.1%, selling 266,925 shares and now holds 1,290,554 shares (about 1.68% of the company) valued at roughly $24.48 million.
• Nurix reported Q results with an EPS of -$0.79 (missing the -$0.76 estimate) and revenue of $6.25M versus estimates of $14.25M, leaving the company with very large negative margins and analysts forecasting about -2.99 EPS for the fiscal year.
• Analysts remain generally constructive with a MarketBeat consensus of "Moderate Buy" and an average price target of $30.46, supported by multiple recent buy/overweight ratings and target increases.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,290,554 shares of the company's stock after selling 266,925 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.68% of Nurix Therapeutics worth $24,482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wexford Capital LP bought a new stake in Nurix Therapeutics in the 3rd quarter valued at $41,000. Tower Research Capital LLC TRC lifted its position in Nurix Therapeutics by 118.3% in 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 in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Nurix Therapeutics in the 3rd quarter valued at $100,000. 49 Wealth Management LLC bought a new stake in Nurix Therapeutics in the 3rd quarter valued at $108,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Nurix Therapeutics in the 3rd quarter valued at $109,000.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $16.69 on Friday. The stock's 50-day simple moving average is $15.68 and its 200 day simple moving average is $15.50. The company has a market cap of $1.73 billion, a P/E ratio of -5.28 and a beta of 1.97. 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 issued 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 net margin of 411.37% and a negative return on equity of 64.21%. As a group, equities analysts predict that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a research report on Friday, April 10th. Piper Sandler boosted their price objective on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, January 29th. BTIG Research reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research report on Thursday, January 29th. Wells Fargo & Company cut their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.46.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,661 shares of the company's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $60,772.60. Following the sale, the chief financial officer directly owned 45,427 shares of the company's stock, valued at approximately $754,088.20. This represents a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gwenn Hansen sold 4,895 shares of the company's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $81,257.00. Following the sale, the insider directly owned 83,672 shares in the company, valued at $1,388,955.20. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.70% of the company's stock.

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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