Y Intercept Hong Kong Ltd Buys Shares of 31,458 Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Key Points

• Y Intercept Hong Kong Ltd has invested approximately $374,000 in Nurix Therapeutics, acquiring 31,458 shares during the first quarter of the year.
• Several hedge funds have made changes to their positions in Nurix, with notable investments including a $164,000 purchase by BNP Paribas Financial Markets and a new stake worth $87,000 by Aquatic Capital Management LLC.
• Research analysts have varying ratings for Nurix Therapeutics, with a consensus rating of "Moderate Buy" and a price target averaging around $29.31, while Morgan Stanley set a target of $16.00.

Y Intercept Hong Kong Ltd acquired a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,458 shares of the company's stock, valued at approximately $374,000.

A number of other institutional investors have also modified their holdings of NRIX. GF Fund Management CO. LTD. purchased a new stake in Nurix Therapeutics during the fourth quarter worth approximately $28,000. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics in the fourth quarter valued at $87,000. Exchange Traded Concepts LLC raised its holdings 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 acquiring an additional 2,562 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Nurix Therapeutics by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock valued at $138,000 after acquiring an additional 877 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Nurix Therapeutics in the fourth quarter valued at $164,000.

Wall Street Analysts Forecast Growth

NRIX has been the topic of a number of research reports. UBS Group dropped 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. Needham & Company LLC restated a "buy" rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Stephens reiterated an "overweight" rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Finally, Morgan Stanley set a $16.00 price objective on shares of Nurix Therapeutics and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $28.87.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 4,304 shares of Nurix Therapeutics stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value of $51,691.04. Following the completion of the sale, the chief financial officer directly owned 40,914 shares in the company, valued at $491,377.14. This trade represents a 9.52% 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 Nurix Therapeutics stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value of $51,739.08. Following the completion of the sale, the insider owned 69,023 shares of the company's stock, valued at approximately $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 own 7.40% of the company's stock.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX traded down $0.25 during midday trading on Friday, reaching $11.01. 157,752 shares of the company traded hands, compared to its average volume of 885,460. The stock's 50-day simple moving average is $11.79 and its 200-day simple moving average is $13.13. Nurix Therapeutics, Inc. has a 12 month low of $8.18 and a 12 month high of $29.56. The firm has a market cap of $841.93 million, a PE ratio of -4.22 and a beta of 2.15.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results 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. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. The business had revenue of $44,056 billion during the quarter, compared to analysts' expectations of $16.26 million. On average, equities research analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS 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.