Eventide Asset Management LLC Makes New Investment in Nurix Therapeutics, Inc. $NRIX

Eventide Asset Management LLC acquired a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,297,893 shares of the company’s stock, valued at approximately $24,621,000. Eventide Asset Management LLC owned 1.26% of Nurix Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC increased its holdings in shares of Nurix Therapeutics by 4.7% in the 4th quarter. Barclays PLC now owns 256,684 shares of the company’s stock valued at $4,869,000 after acquiring an additional 11,589 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Nurix Therapeutics by 579.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 172,364 shares of the company’s stock valued at $3,277,000 after acquiring an additional 147,012 shares during the period. Walleye Capital LLC purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at $1,420,000. Rubric Capital Management LP purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at $46,930,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at $2,087,000.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares of the company’s stock, valued at approximately $624,027.20. The trade was a 27.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of Nurix Therapeutics stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $16.65, for a total value of $53,513.10. Following the sale, the insider directly owned 120,399 shares of the company’s stock, valued at approximately $2,004,643.35. This represents a 2.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 19,657 shares of company stock valued at $326,586. 6.70% of the stock is currently owned by insiders.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $16.95 on Friday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -5.36 and a beta of 1.86. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $22.50. The business has a fifty day moving average price of $16.42 and a 200-day moving average price of $16.92.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.The business had revenue of $6.25 million during the quarter, compared to analyst estimates of $14.25 million. On average, equities research analysts anticipate that Nurix Therapeutics, Inc. will post -2.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NRIX. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a report on Wednesday. BTIG Research lifted their price target on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Wells Fargo & Company downgraded Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their price target for the company from $28.00 to $25.00 in a report on Monday, June 8th. Jefferies Financial Group lifted their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Truist Financial lifted their price target on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.14.

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.