ARK Investment Management LLC Sells 64,628 Shares of Nurix Therapeutics, Inc. $NRIX

ARK Investment Management LLC reduced its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,510,404 shares of the company’s stock after selling 64,628 shares during the period. ARK Investment Management LLC’s holdings in Nurix Therapeutics were worth $13,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after purchasing an additional 3,475 shares during the last quarter. 49 Wealth Management LLC acquired a new position in shares of Nurix Therapeutics during the third quarter worth $108,000. Velan Capital Investment Management LP bought a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $114,000. Sei Investments Co. bought a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $158,000. Finally, Creative Planning acquired a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at $187,000.

Analysts Set New Price Targets

NRIX has been the subject of several research reports. Mizuho increased their target price on Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Wells Fargo & Company dropped their price objective on shares of Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Stifel Nicolaus boosted their target price on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Piper Sandler raised their price target on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of Nurix Therapeutics in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $16.26 on Thursday. Nurix Therapeutics, Inc. has a fifty-two week low of $8.18 and a fifty-two week high of $22.50. The company has a 50 day simple moving average of $17.45 and a two-hundred day simple moving average of $14.17. The company has a market capitalization of $1.67 billion, a PE ratio of -5.35 and a beta of 1.96.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.02. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%. The firm had revenue of $13.58 million for the quarter, compared to the consensus estimate of $13.41 million. Research analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 3,661 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $60,772.60. Following the transaction, the chief financial officer owned 45,427 shares in the company, valued at $754,088.20. The trade was a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the sale, the insider owned 83,672 shares of the company’s stock, valued at approximately $1,388,955.20. The trade was a 5.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.40% of the stock is owned by insiders.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.