Flax Pond Capital LLC Buys New Position in Nurix Therapeutics, Inc. $NRIX

Flax Pond Capital LLC purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 80,200 shares of the company’s stock, valued at approximately $1,521,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. General Atlantic L.P. acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth $92,899,000. Vanguard Group Inc. lifted its holdings in Nurix Therapeutics by 32.5% in the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after buying an additional 1,460,736 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Nurix Therapeutics by 75.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,467,600 shares of the company’s stock valued at $65,780,000 after buying an additional 1,487,060 shares during the period. Handelsbanken Fonder AB boosted its position in Nurix Therapeutics by 85.7% during the third quarter. Handelsbanken Fonder AB now owns 520,000 shares of the company’s stock valued at $4,805,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Cinctive Capital Management LP boosted its position in Nurix Therapeutics by 64.5% during the third quarter. Cinctive Capital Management LP now owns 191,015 shares of the company’s stock valued at $1,765,000 after acquiring an additional 74,882 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NRIX shares. Jefferies Financial Group lifted their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of Nurix Therapeutics in a research note on Monday, June 15th. BTIG Research lifted their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Wells Fargo & Company lowered Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the company from $28.00 to $25.00 in a research note on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.20.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $17.55 on Friday. The firm’s 50-day moving average price is $16.57 and its 200-day moving average price is $16.92. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $22.50. The firm has a market capitalization of $1.81 billion, a P/E ratio of -5.55 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX) last issued 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). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The firm had revenue of $6.25 million during the quarter, compared to analyst estimates of $14.25 million. Equities research analysts forecast that Nurix Therapeutics, Inc. will post -2.88 EPS for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the transaction, the chief financial officer owned 37,592 shares in the company, valued at approximately $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 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 3,214 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,004,643.35. This trade represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 19,657 shares of company stock worth $326,586. 6.70% of the stock is owned by company 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.