RA Capital Management L.P. Buys Shares of 1,333,333 Nurix Therapeutics, Inc. (NASDAQ:NRIX)

RA Capital Management L.P. acquired a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,333,333 shares of the company's stock, valued at approximately $25,120,000. RA Capital Management L.P. owned approximately 1.76% of Nurix Therapeutics at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Nurix Therapeutics by 1,711.9% in the fourth quarter. FMR LLC now owns 10,634,231 shares of the company's stock worth $200,349,000 after buying an additional 10,047,329 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Nurix Therapeutics during the third quarter valued at approximately $7,879,000. Vanguard Group Inc. grew its holdings in shares of Nurix Therapeutics by 8.3% during the fourth quarter. Vanguard Group Inc. now owns 4,345,266 shares of the company's stock valued at $81,865,000 after buying an additional 333,452 shares during the last quarter. Norges Bank bought a new stake in Nurix Therapeutics in the 4th quarter worth approximately $6,006,000. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Nurix Therapeutics by 42.8% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 789,222 shares of the company's stock valued at $14,869,000 after buying an additional 236,620 shares in the last quarter.

Analysts Set New Price Targets

NRIX has been the topic of several research reports. Leerink Partners assumed coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They issued a "market perform" rating and a $16.00 price target on the stock. Stephens reiterated an "overweight" rating and set a $31.00 target price on shares of Nurix Therapeutics in a report on Tuesday, January 21st. 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 research note on Wednesday, April 9th. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price target on shares of Nurix Therapeutics in a report on Tuesday, April 29th. Finally, Morgan Stanley increased their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $30.44.

Nurix Therapeutics Stock Performance

NRIX stock traded down $0.33 during midday trading on Monday, reaching $10.94. 525,663 shares of the company were exchanged, compared to its average volume of 886,803. The stock's 50-day simple moving average is $12.03 and its 200 day simple moving average is $17.89. Nurix Therapeutics, Inc. has a 1-year low of $8.18 and a 1-year high of $29.56. The company has a market cap of $834.02 million, a price-to-earnings ratio of -3.79 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted 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. 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 the consensus estimate of $12.78 million. During the same period in the previous year, the business earned ($0.76) EPS. On average, research analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,377 shares of the 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 transaction, the insider now directly owns 61,516 shares of the company's stock, valued at approximately $707,434. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 5,825 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $488,660.76. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,838 shares of company stock worth $221,500 in the last 90 days. 7.40% of the stock is owned by insiders.

Nurix Therapeutics Company 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.