Vestal Point Capital LP Purchases 640,552 Shares of Nurix Therapeutics, Inc. $NRIX

Key Points

• Vestal Point Capital LP increased its stock position in Nurix Therapeutics by 132.1% during the first quarter, now holding over $13.37 million worth of shares.
• Despite a recent decrease in price targets from analysts, the stock has an average rating of "Moderate Buy" with a projected target price of $28.87.
• Insider selling activity included significant transactions by an executive and the CFO, with total shares sold amounting to $163,014 in the last 90 days.

Vestal Point Capital LP boosted its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 132.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,125,552 shares of the company's stock after buying an additional 640,552 shares during the quarter. Vestal Point Capital LP owned approximately 1.48% of Nurix Therapeutics worth $13,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NRIX. Soleus Capital Management L.P. increased its stake in shares of Nurix Therapeutics by 97.3% in the fourth quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after purchasing an additional 1,036,999 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth approximately $16,447,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Nurix Therapeutics in the fourth quarter valued at approximately $4,321,000. Millennium Management LLC boosted its position in shares of Nurix Therapeutics by 91.3% in the fourth quarter. Millennium Management LLC now owns 424,137 shares of the company's stock valued at $7,991,000 after acquiring an additional 202,419 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in shares of Nurix Therapeutics by 108.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 374,673 shares of the company's stock worth $7,059,000 after acquiring an additional 194,673 shares during the last quarter.

Nurix Therapeutics Stock Up 8.7%

NRIX stock traded up $0.79 during midday trading on Friday, reaching $9.91. 831,891 shares of the company's stock traded hands, compared to its average volume of 699,832. The company has a market cap of $757.62 million, a price-to-earnings ratio of -3.80 and a beta of 2.10. The company has a 50-day simple moving average of $10.95 and a two-hundred day simple moving average of $11.53. Nurix Therapeutics, Inc. has a 1-year low of $8.18 and a 1-year high of $29.56.

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

Wall Street Analysts Forecast Growth

NRIX has been the subject of a number of research reports. HC Wainwright reduced their price target on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, July 14th. Wall Street Zen raised Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Stephens reiterated an "overweight" rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Oppenheimer restated an "outperform" rating and issued a $30.00 price objective (down previously from $32.00) on shares of Nurix Therapeutics in a research note on Thursday, July 31st. Finally, Baird R W upgraded shares of Nurix Therapeutics to a "strong-buy" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nurix Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $29.07.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 5,402 shares of Nurix Therapeutics stock in a transaction dated 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 in the company, valued at $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 4,308 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total transaction of $51,739.08. Following the sale, the insider directly owned 69,023 shares of the company's stock, valued at approximately $828,966.23. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,014 shares of company stock valued at $163,014. 7.40% of the stock is currently owned by company insiders.

Nurix Therapeutics Company 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.