Rhenman & Partners Asset Management AB Acquires 162,500 Shares of Nurix Therapeutics, Inc. $NRIX

Rhenman & Partners Asset Management AB lifted its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 87.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,500 shares of the company’s stock after buying an additional 162,500 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Nurix Therapeutics were worth $3,211,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Nurix Therapeutics by 118.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after acquiring an additional 3,475 shares during the last quarter. 49 Wealth Management LLC bought a new position in Nurix Therapeutics during the third quarter valued at approximately $108,000. Velan Capital Investment Management LP purchased a new stake in Nurix Therapeutics in the second quarter worth approximately $114,000. Sei Investments Co. purchased a new stake in Nurix Therapeutics in the second quarter worth approximately $158,000. Finally, Creative Planning bought a new stake in Nurix Therapeutics in the 2nd quarter worth approximately $187,000.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $15.10 on Friday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -4.97 and a beta of 1.96. Nurix Therapeutics, Inc. has a 1 year low of $8.18 and a 1 year high of $22.50. The firm has a fifty day moving average price of $17.29 and a 200-day moving average price of $14.24.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial started coverage on shares of Nurix Therapeutics in a research note on Monday, November 24th. They set a “buy” rating and a $30.00 target price for the company. Stifel Nicolaus upped their price objective on Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Piper Sandler raised their target price on Nurix Therapeutics from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Wells Fargo & Company cut their price target on Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, January 29th. Finally, Mizuho upped their price target on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 45,427 shares of the company’s stock, valued at approximately $754,088.20. This represents a 7.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $81,257.00. Following the sale, the insider owned 83,672 shares in the company, valued at approximately $1,388,955.20. The trade was a 5.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.40% of the stock is owned by insiders.

About Nurix Therapeutics

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.