Vanguard Group Inc. Purchases 1,460,736 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Vanguard Group increased its stake in Nurix Therapeutics by 32.5% in the fourth quarter, buying 1.46 million additional shares and bringing its total holdings to 5.95 million shares worth about $112.9 million.
• Analysts remain mixed on NRIX, with a consensus rating of Moderate Buy and an average price target of $30.46. Recent calls ranged from Stifel’s $35 target and buy rating to Weiss Ratings’ sell rating.
• Nurix reported a wider-than-expected loss in its latest quarter, posting EPS of -$0.79 versus estimates of -$0.76 and revenue of $6.25 million versus expectations of $14.25 million. The stock was trading around $15.96, near its 50-day average and below its 200-day average.

Vanguard Group Inc. increased its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,949,512 shares of the company's stock after acquiring an additional 1,460,736 shares during the period. Vanguard Group Inc. owned approximately 7.74% of Nurix Therapeutics worth $112,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NRIX. Arizona State Retirement System grew its holdings in Nurix Therapeutics by 8.2% during the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company's stock valued at $417,000 after purchasing an additional 1,674 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Nurix Therapeutics by 66.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company's stock worth $93,000 after purchasing an additional 1,970 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Nurix Therapeutics by 23.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,518 shares of the company's stock worth $313,000 after purchasing an additional 3,118 shares during the period. Tower Research Capital LLC TRC increased its stake in Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock worth $73,000 after purchasing an additional 3,475 shares during the period. Finally, Legal & General Group Plc grew its stake in Nurix Therapeutics by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 62,420 shares of the company's stock worth $711,000 after acquiring an additional 3,801 shares in the last quarter.

Analysts Set New Price Targets

NRIX has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Royal Bank Of Canada upped their price target on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Wells Fargo & Company lowered their price target on shares of Nurix Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $26.00 price target on shares of Nurix Therapeutics in a research report on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.46.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the transaction, the chief financial officer owned 37,592 shares of the company's stock, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the transaction, the insider directly owned 120,399 shares of the company's stock, valued at approximately $2,004,643.35. This represents a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 19,657 shares of company stock valued at $326,586. Corporate insiders own 6.70% of the company's stock.

Nurix Therapeutics Stock Down 2.0%

NASDAQ:NRIX opened at $15.96 on Wednesday. The firm has a 50 day moving average of $15.90 and a 200 day moving average of $16.34. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -5.05 and a beta of 1.87. 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.03). The company had revenue of $6.25 million during the quarter, compared to analysts' expectations of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. As a group, analysts expect that Nurix Therapeutics, Inc. will post -2.94 EPS for the current year.

Nurix Therapeutics 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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