UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Nurix Therapeutics, Inc. $NRIX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 14.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,104 shares of the company’s stock after selling 22,246 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Nurix Therapeutics worth $3,278,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. General Atlantic L.P. acquired a new stake in Nurix Therapeutics during the 4th quarter valued at $92,899,000. Trails Edge Capital Partners LP acquired a new position in shares of Nurix Therapeutics in the second quarter worth $38,166,318. Baker BROS. Advisors LP raised its holdings in shares of Nurix Therapeutics by 20.0% in the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after acquiring an additional 776,431 shares during the last quarter. Man Group plc purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at $2,076,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at $6,614,000.

Nurix Therapeutics Trading Down 1.7%

Nurix Therapeutics stock opened at $25.81 on Friday. The firm has a market capitalization of $2.68 billion, a P/E ratio of -7.48 and a beta of 1.80. The stock has a fifty day moving average price of $25.07 and a 200 day moving average price of $19.65. Nurix Therapeutics, Inc. has a 52 week low of $8.19 and a 52 week high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly 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 net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $15.29 million. As a group, equities analysts predict that Nurix Therapeutics, Inc. will post -2.69 EPS for the current year.

Analysts Set New Price Targets

NRIX has been the subject of a number of recent research reports. Wall Street Zen cut Nurix Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. UBS Group upped their target price on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of Nurix Therapeutics in a report on Tuesday, August 4th. Oppenheimer began coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 1,452 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total transaction of $36,982.44. Following the transaction, the insider owned 117,227 shares of the company’s stock, valued at $2,985,771.69. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of Nurix Therapeutics stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the transaction, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their position. 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. Over the last 90 days, insiders sold 26,766 shares of company stock valued at $626,343. 6.70% of the stock is owned by 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.