Pictet Asset Management Holding SA Sells 741,462 Shares of Nurix Therapeutics, Inc. $NRIX

Pictet Asset Management Holding SA reduced its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 21.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,726,138 shares of the company’s stock after selling 741,462 shares during the period. Pictet Asset Management Holding SA owned about 2.64% of Nurix Therapeutics worth $42,255,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Flax Pond Capital LLC bought a new stake in Nurix Therapeutics during the fourth quarter worth about $1,521,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nurix Therapeutics in the fourth quarter valued at approximately $53,000. Seven Fleet Capital Management LP acquired a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $379,000. Invesco Ltd. boosted its holdings in shares of Nurix Therapeutics by 115.0% in the 4th quarter. Invesco Ltd. now owns 343,830 shares of the company’s stock worth $6,522,000 after acquiring an additional 183,909 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in Nurix Therapeutics by 3.6% during the 4th quarter. Voloridge Investment Management LLC now owns 154,459 shares of the company’s stock worth $2,930,000 after acquiring an additional 5,318 shares during the last quarter.

Nurix Therapeutics Price Performance

NRIX opened at $24.26 on Wednesday. The stock has a market capitalization of $2.51 billion, a P/E ratio of -7.68 and a beta of 1.86. The company’s 50 day simple moving average is $17.26 and its 200-day simple moving average is $17.06. Nurix Therapeutics, Inc. has a one year low of $8.19 and a one year high of $24.88.

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 the consensus estimate 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 company had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. As a group, analysts anticipate that Nurix Therapeutics, Inc. will post -2.83 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the transaction, the chief financial officer owned 37,592 shares of the company’s stock, valued at $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the firm’s 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 completion of the transaction, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,051 shares of company stock valued at $434,466 over the last three months. Insiders own 6.70% of the company’s stock.

Analyst Ratings Changes

NRIX has been the subject of a number of recent analyst reports. Truist Financial raised 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. Jefferies Financial Group boosted their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Finally, 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. Fourteen 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, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $32.20.

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.