Renaissance Technologies LLC Takes $1.83 Million Position in Nurix Therapeutics, Inc. $NRIX

Renaissance Technologies LLC purchased a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 118,000 shares of the company’s stock, valued at approximately $1,829,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRIX. General Atlantic L.P. acquired a new stake in shares of Nurix Therapeutics in the fourth quarter worth $92,899,000. Vanguard Group Inc. raised its position in Nurix Therapeutics by 32.5% during 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. Baker BROS. Advisors LP raised its position in Nurix Therapeutics by 20.0% during the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after buying an additional 776,431 shares during the period. Flax Pond Capital LLC purchased a new stake in Nurix Therapeutics in the 4th quarter worth about $1,521,000. Finally, Perceptive Advisors LLC lifted its stake in Nurix Therapeutics by 151.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,555,877 shares of the company’s stock worth $67,455,000 after acquiring an additional 2,139,728 shares in the last quarter.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 4,761 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the transaction, the chief financial officer owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total value of $108,900.00. Following the completion of the transaction, the insider directly owned 117,227 shares in the company, valued at $2,930,675. The trade was a 3.58% 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. Insiders sold 25,314 shares of company stock valued at $589,361 in the last ninety days. Insiders own 6.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus increased their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Mizuho raised their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, August 4th. Finally, Oppenheimer started coverage on shares of Nurix Therapeutics in a research note on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective on the stock. Thirteen equities 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.21.

Nurix Therapeutics Trading Up 0.3%

Nurix Therapeutics stock opened at $25.96 on Wednesday. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $26.36. The firm’s fifty day simple moving average is $21.62 and its 200-day simple moving average is $18.15. The company has a market capitalization of $2.69 billion, a P/E ratio of -7.52 and a beta of 1.79.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The business had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. On average, equities research analysts predict that Nurix Therapeutics, Inc. will post -2.73 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.