Vanguard Group Inc. Boosts Stock Position in Nurix Therapeutics, Inc. $NRIX

Key Points

• Vanguard Group Inc. increased its stake in Nurix Therapeutics by 1.6%, acquiring an additional 69,856 shares, bringing its total holdings to 4,415,122 shares valued at approximately $52.45 million.
• Several hedge funds have also increased their positions in Nurix Therapeutics, with notable acquisitions from RA Capital Management and Soleus Capital Management during the previous quarter.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a consensus target price of $28.87, despite recent adjustments showing price targets ranging from $16.00 to $34.00.

Vanguard Group Inc. raised its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,415,122 shares of the company's stock after purchasing an additional 69,856 shares during the quarter. Vanguard Group Inc. owned approximately 5.79% of Nurix Therapeutics worth $52,452,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NRIX. GF Fund Management CO. LTD. bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $28,000. Aquatic Capital Management LLC bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $87,000. BNP Paribas Financial Markets bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $164,000. Exchange Traded Concepts LLC raised its stake 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 buying an additional 2,562 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $198,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NRIX. Wall Street Zen upgraded Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Stephens reiterated an "overweight" rating and set a $30.00 target price on shares of Nurix Therapeutics in a research note on Thursday, July 10th. Oppenheimer reiterated an "outperform" rating and set a $30.00 target price (down previously from $32.00) on shares of Nurix Therapeutics in a research note on Thursday, July 31st. UBS Group lowered their target price on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Finally, HC Wainwright lowered their target price on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $28.87.

Insider Buying and Selling at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the completion of the sale, the chief financial officer directly owned 35,512 shares of the company's stock, valued at approximately $391,697.36. This represents a 13.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 4,308 shares of the 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 completion of the sale, the insider directly owned 69,023 shares of the company's stock, valued at $828,966.23. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,014 shares of company stock valued at $163,014 in the last quarter. 7.40% of the stock is currently owned by company insiders.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock traded down $0.07 during midday trading on Friday, hitting $9.34. 1,832,002 shares of the company traded hands, compared to its average volume of 610,933. The stock has a market cap of $714.04 million, a price-to-earnings ratio of -3.58 and a beta of 2.14. The firm's fifty day moving average price is $11.20 and its 200-day moving average price is $11.81. Nurix Therapeutics, Inc. has a 12 month low of $8.18 and a 12 month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.79) by $0.27. The business had revenue of $44.06 million during the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. Equities research analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

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.