Velan Capital Investment Management LP Invests $1.84 Million in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Velan Capital Investment Management LP bought a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 97,889 shares of the company's stock, valued at approximately $1,844,000. Nurix Therapeutics comprises 1.6% of Velan Capital Investment Management LP's investment portfolio, making the stock its 13th largest position. Velan Capital Investment Management LP owned about 0.13% of Nurix Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. US Bancorp DE lifted its position in shares of Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after buying an additional 842 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Nurix Therapeutics in the 4th quarter valued at $87,000. Summit Investment Advisors Inc. lifted its holdings in Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock valued at $138,000 after purchasing an additional 877 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Nurix Therapeutics during the 4th quarter valued at $164,000. Finally, Nomura Holdings Inc. bought a new position in Nurix Therapeutics during the fourth quarter worth $198,000.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 6,198 shares of Nurix Therapeutics stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.33, for a total transaction of $70,223.34. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at $382,092.92. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $38,835.50. Following the transaction, the insider now owns 61,516 shares of the company's stock, valued at $707,434. The trade was a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,838 shares of company stock valued at $221,500. Corporate insiders own 7.40% of the company's stock.

Nurix Therapeutics Stock Performance

Shares of NRIX stock opened at $9.56 on Monday. The company has a market capitalization of $728.82 million, a P/E ratio of -3.31 and a beta of 2.23. Nurix Therapeutics, Inc. has a fifty-two week low of $8.18 and a fifty-two week high of $29.56. The stock has a 50 day moving average price of $11.07 and a two-hundred day moving average price of $16.80.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The company had revenue of $18.45 million for the quarter, compared to analysts' expectations of $12.78 million. During the same period last year, the firm earned ($0.76) earnings per share. As a group, equities analysts predict that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on NRIX. Needham & Company LLC restated a "buy" rating and set a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Royal Bank of Canada raised their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Stephens reaffirmed an "overweight" rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price objective on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.44.

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.

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