Stempoint Capital LP Makes New $4.89 Million Investment in Nurix Therapeutics, Inc. $NRIX

Stempoint Capital LP purchased a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 315,226 shares of the company’s stock, valued at approximately $4,886,000. Stempoint Capital LP owned 0.30% of Nurix Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NRIX. Larson Financial Group LLC grew its position in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after buying an additional 1,190 shares during the period. California State Teachers Retirement System lifted its position in shares of Nurix Therapeutics by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock valued at $1,290,000 after acquiring an additional 1,476 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics during the fourth quarter worth $31,000. Royal Bank of Canada boosted its stake in Nurix Therapeutics by 17.6% during the fourth quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock worth $206,000 after acquiring an additional 1,623 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Nurix Therapeutics by 8.2% in the fourth quarter. Arizona State Retirement System now owns 21,990 shares of the company’s stock worth $417,000 after purchasing an additional 1,674 shares during the period.

Insider Activity

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 transaction, the chief financial officer owned 37,592 shares in the company, valued at approximately $624,027.20. The trade was a 27.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the sale, the insider directly owned 115,005 shares of the company’s stock, valued at $2,300,100. This represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NRIX has been the subject of several research analyst reports. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and decreased their price target for the company from $28.00 to $25.00 in a research note on Monday, June 8th. Robert W. Baird raised their target price on Nurix Therapeutics from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. UBS Group boosted their target price on Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada upped their price target on Nurix Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Finally, Morgan Stanley increased their price target on Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Nurix Therapeutics Trading Down 2.3%

Nurix Therapeutics stock opened at $23.60 on Thursday. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $25.08. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -6.84 and a beta of 1.80. The firm’s fifty day moving average price is $20.31 and its two-hundred day moving average price is $17.78.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The business had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -2.82 EPS for the current year.

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.