Lord Abbett & CO. LLC Acquires 87,132 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Lord Abbett & CO. LLC grew its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 437,772 shares of the company's stock after acquiring an additional 87,132 shares during the quarter. Lord Abbett & CO. LLC owned 0.58% of Nurix Therapeutics worth $8,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in Nurix Therapeutics by 1,711.9% in the fourth quarter. FMR LLC now owns 10,634,231 shares of the company's stock valued at $200,349,000 after buying an additional 10,047,329 shares during the period. Vanguard Group Inc. grew its holdings in shares of Nurix Therapeutics by 8.3% during the 4th quarter. Vanguard Group Inc. now owns 4,345,266 shares of the company's stock worth $81,865,000 after purchasing an additional 333,452 shares in the last quarter. Norges Bank bought a new position in Nurix Therapeutics in the 4th quarter valued at about $6,006,000. Nikko Asset Management Americas Inc. lifted its stake in Nurix Therapeutics by 42.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 789,222 shares of the company's stock worth $14,869,000 after purchasing an additional 236,620 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Nurix Therapeutics by 42.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company's stock valued at $14,869,000 after acquiring an additional 235,971 shares during the last quarter.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,377 shares of the firm'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 directly owns 61,516 shares of the company's stock, valued at $707,434. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Houte Hans Van sold 5,825 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total transaction of $84,404.25. Following the sale, the chief financial officer now owns 33,724 shares of the company's stock, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,640 shares of company stock valued at $151,277. Company insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NRIX shares. Leerink Partnrs upgraded Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective 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. Royal Bank of Canada raised their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their target price on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Nurix Therapeutics has an average rating of "Moderate Buy" and an average price target of $30.44.

Nurix Therapeutics Price Performance

Shares of NRIX traded up $0.11 during midday trading on Friday, hitting $11.27. 595,166 shares of the company traded hands, compared to its average volume of 887,793. Nurix Therapeutics, Inc. has a one year low of $8.18 and a one year high of $29.56. The firm has a market cap of $859.18 million, a P/E ratio of -3.90 and a beta of 2.23. The stock has a 50-day moving average of $12.13 and a 200-day moving average of $18.08.

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. The business had revenue of $18.45 million for the quarter, compared to analysts' expectations of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same period in the prior year, the company posted ($0.76) EPS. Sell-side analysts forecast that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

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.