Invesco Ltd. Sells 361,360 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Invesco Ltd. lowered its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 87.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,980 shares of the company's stock after selling 361,360 shares during the period. Invesco Ltd. owned about 0.07% of Nurix Therapeutics worth $979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Nurix Therapeutics by 85.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock worth $1,531,000 after buying an additional 31,352 shares during the last quarter. Barclays PLC boosted its stake in shares of Nurix Therapeutics by 77.9% in the 3rd quarter. Barclays PLC now owns 128,344 shares of the company's stock valued at $2,884,000 after purchasing an additional 56,190 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Nurix Therapeutics by 42.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company's stock valued at $14,869,000 after purchasing an additional 235,971 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Nurix Therapeutics during the 4th quarter valued at $1,026,000. Finally, Norges Bank purchased a new stake in Nurix Therapeutics during the 4th quarter valued at $6,006,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NRIX. Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. Morgan Stanley boosted their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Royal Bank of Canada boosted their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.44.

Nurix Therapeutics Price Performance

NASDAQ NRIX traded up $0.11 during mid-day trading on Friday, reaching $11.27. The stock had a trading volume of 599,966 shares, compared to its average volume of 888,254. The stock has a market cap of $859.18 million, a PE ratio of -3.90 and a beta of 2.23. Nurix Therapeutics, Inc. has a 1 year low of $8.18 and a 1 year high of $29.56. The company has a fifty day moving average price of $12.03 and a 200 day moving average price of $17.93.

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

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 6,198 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was 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 in the company, valued at approximately $382,092.92. This represents a 15.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 3,377 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the sale, the insider now owns 61,516 shares in the company, valued at approximately $707,434. This trade represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,838 shares of company stock valued at $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.