Elmind Capital LP Makes New Investment in Nurix Therapeutics, Inc. $NRIX

Elmind Capital LP purchased a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 460,000 shares of the company’s stock, valued at approximately $11,159,600,000. Nurix Therapeutics accounts for 2.8% of Elmind Capital LP’s portfolio, making the stock its 14th largest holding. Elmind Capital LP owned 0.44% of Nurix Therapeutics as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Nurix Therapeutics during the second quarter worth approximately $212,769,000. Vanguard Group Inc. boosted its stake in Nurix Therapeutics by 32.5% during the 4th 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. bought a new stake in shares of Nurix Therapeutics in the 4th quarter worth $92,899,000. Morgan Stanley lifted its holdings in shares of Nurix Therapeutics by 115.9% in the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after buying an additional 2,620,323 shares during the period. Finally, Vestal Point Capital LP lifted its holdings in shares of Nurix Therapeutics by 35.0% in the fourth quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock valued at $88,969,000 after buying an additional 1,215,000 shares during the period.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $26.95 on Wednesday. The firm has a 50 day simple moving average of $23.82 and a 200 day simple moving average of $18.79. Nurix Therapeutics, Inc. has a 52 week low of $8.19 and a 52 week high of $28.23. The company has a market cap of $2.80 billion, a PE ratio of -7.81 and a beta of 1.79.

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). The firm had revenue of $9.04 million for the quarter, compared to analysts’ expectations of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. On average, equities analysts predict that Nurix Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NRIX. BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Friday, July 10th. Morgan Stanley increased their target price 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. Wells Fargo & Company lowered shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. Mizuho increased their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Oppenheimer began coverage on Nurix Therapeutics in a research note on Monday, June 29th. They set an “outperform” rating and a $28.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 4,761 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the transaction, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. This trade represents a 4.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,314 shares of company stock worth $589,361 in the last quarter. 6.70% of the stock is currently owned by corporate 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.