Nurix Therapeutics, Inc. (NASDAQ:NRIX) Stock Position Reduced by Deep Track Capital LP

Deep Track Capital LP decreased its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000,000 shares of the company's stock after selling 868,104 shares during the quarter. Nurix Therapeutics accounts for approximately 2.1% of Deep Track Capital LP's holdings, making the stock its 13th largest position. Deep Track Capital LP owned 3.95% of Nurix Therapeutics worth $56,520,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NRIX. US Bancorp DE raised its stake in Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after acquiring an additional 842 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at approximately $87,000. Summit Investment Advisors Inc. raised its position in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after purchasing an additional 877 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Nurix Therapeutics in the 4th quarter worth approximately $164,000. Finally, ADAR1 Capital Management LLC acquired a new position in Nurix Therapeutics during the 4th quarter valued at approximately $207,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NRIX. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Royal Bank of Canada lifted their price objective 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. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a research note on Monday, March 17th. They set a "market perform" rating and a $16.00 target price for the company. Stephens restated an "overweight" rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their price objective on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.44.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 3,377 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the completion of the sale, the insider now 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 filing with the SEC, which is available at this link. Also, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction 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 transaction, 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. In the last quarter, insiders have sold 17,838 shares of company stock worth $221,500. Company insiders own 7.40% of the company's stock.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $9.65 on Wednesday. The stock has a market capitalization of $735.68 million, a price-to-earnings ratio of -3.34 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 50 day moving average price of $11.80 and a 200 day moving average price of $17.73.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping 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 business had revenue of $18.45 million during the quarter, compared to analyst estimates of $12.78 million. During the same period last year, the company posted ($0.76) EPS. On average, sell-side analysts expect 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.

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