Nurix Therapeutics, Inc. $NRIX Stake Increased by Baker BROS. Advisors LP

Baker BROS. Advisors LP grew its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 20.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,658,556 shares of the company’s stock after purchasing an additional 776,431 shares during the period. Nurix Therapeutics comprises approximately 0.5% of Baker BROS. Advisors LP’s investment portfolio, making the stock its 28th largest position. Baker BROS. Advisors LP’s holdings in Nurix Therapeutics were worth $88,373,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Nurix Therapeutics in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nurix Therapeutics in the fourth quarter valued at $33,000. Wexford Capital LP purchased a new stake in shares of Nurix Therapeutics in the third quarter valued at $41,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Nurix Therapeutics by 66.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company’s stock worth $93,000 after acquiring an additional 1,970 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on NRIX. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Truist Financial upped their price target on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Jefferies Financial Group upped their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $16.65, for a total value of $53,513.10. Following the completion of the sale, the insider directly owned 120,399 shares in the company, valued at approximately $2,004,643.35. This represents a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 19,657 shares of company stock worth $326,586 over the last three months. Company insiders own 6.70% of the company’s stock.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $17.12 on Thursday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -5.42 and a beta of 1.86. Nurix Therapeutics, Inc. has a one year low of $8.19 and a one year high of $22.50. The company’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $16.91.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.03). The business had revenue of $6.25 million for the quarter, compared to analyst estimates of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. As a group, sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.88 earnings per share 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.