First Trust Advisors LP Acquires New Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

First Trust Advisors LP bought a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 135,903 shares of the company's stock, valued at approximately $2,560,000. First Trust Advisors LP owned approximately 0.18% of Nurix Therapeutics as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its holdings in shares of Nurix Therapeutics by 77.9% during the third quarter. Barclays PLC now owns 128,344 shares of the company's stock worth $2,884,000 after acquiring an additional 56,190 shares in the last quarter. Franklin Resources Inc. increased its position in Nurix Therapeutics by 52.4% in the 3rd quarter. Franklin Resources Inc. now owns 123,101 shares of the company's stock worth $2,766,000 after purchasing an additional 42,315 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nurix Therapeutics by 85.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock worth $1,531,000 after purchasing an additional 31,352 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Nurix Therapeutics by 31.1% during the 4th quarter. SG Americas Securities LLC now owns 30,086 shares of the company's stock valued at $567,000 after buying an additional 7,141 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Nurix Therapeutics by 21.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,020 shares of the company's stock valued at $283,000 after buying an additional 2,632 shares in the last quarter.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $11.27 on Monday. The company has a 50-day simple moving average of $12.03 and a 200-day simple moving average of $17.89. Nurix Therapeutics, Inc. has a 52 week low of $8.18 and a 52 week high of $29.56. The firm has a market capitalization of $859.18 million, a P/E ratio of -3.90 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $18.45 million for the quarter, compared to analyst estimates of $12.78 million. During the same period in the previous year, the company posted ($0.76) earnings per share. As a group, equities analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on NRIX. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Stephens restated an "overweight" rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Stifel Nicolaus lowered their target price on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company cut their target price on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price target on Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $30.44.

Insider Activity at Nurix Therapeutics

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

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.

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