Handelsbanken Fonder AB Increases Stock Position in Nurix Therapeutics, Inc. $NRIX

Handelsbanken Fonder AB boosted its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 633,000 shares of the company’s stock after buying an additional 86,000 shares during the period. Handelsbanken Fonder AB’s holdings in Nurix Therapeutics were worth $15,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Nurix Therapeutics by 32.5% in the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after purchasing an additional 1,460,736 shares in the last quarter. General Atlantic L.P. purchased a new stake in Nurix Therapeutics during the 4th quarter worth about $92,899,000. Morgan Stanley lifted its holdings in Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after purchasing an additional 2,620,323 shares in the last quarter. Vestal Point Capital LP boosted its stake in Nurix Therapeutics by 35.0% in the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after purchasing an additional 1,215,000 shares during the period. Finally, Baker BROS. Advisors LP boosted its stake in Nurix Therapeutics by 20.0% in the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after purchasing an additional 776,431 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Morgan Stanley boosted their price objective on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada upped their target price on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday. BTIG Research reiterated a “buy” rating and issued a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Finally, Oppenheimer began coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They issued an “outperform” rating and a $28.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

Nurix Therapeutics Price Performance

NRIX stock opened at $27.19 on Friday. The firm has a 50 day simple moving average of $22.08 and a two-hundred day simple moving average of $18.26. The stock has a market cap of $2.82 billion, a PE ratio of -7.88 and a beta of 1.79. Nurix Therapeutics, Inc. has a one year low of $8.19 and a one year high of $27.35.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The company had revenue of $9.04 million for the quarter, compared to analysts’ expectations of $15.29 million. On average, research analysts expect that Nurix Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the transaction, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total value of $115,977.96. Following the transaction, the chief financial officer owned 40,166 shares in the company, valued at $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 25,314 shares of company stock worth $589,361. 6.70% of the stock is owned by insiders.

Nurix Therapeutics 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.