Y Intercept Hong Kong Ltd Makes New Investment in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Y Intercept Hong Kong Ltd purchased a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,388 shares of the company’s stock, valued at approximately $346,000.

Several other institutional investors have also modified their holdings of NRIX. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics in the second quarter valued at $26,778,000. Samlyn Capital LLC purchased a new position in shares of Nurix Therapeutics in the 2nd quarter valued at about $12,177,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Nurix Therapeutics during the third quarter worth about $12,432,000. FMR LLC increased its stake in shares of Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after buying an additional 511,256 shares during the period. Finally, Patient Square Capital LP acquired a new stake in Nurix Therapeutics in the third quarter valued at approximately $7,320,000.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $21.18 on Wednesday. The stock has a market cap of $1.50 billion, a P/E ratio of -7.28 and a beta of 2.11. Nurix Therapeutics, Inc. has a 1-year low of $7.65 and a 1-year high of $29.56. The firm has a fifty day moving average price of $23.61 and a 200 day moving average price of $22.29.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on NRIX shares. UBS Group assumed coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target for the company. BTIG Research began coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. Jefferies Financial Group began coverage on Nurix Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $41.00 price target for the company. Finally, Oppenheimer increased their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and an average target price of $30.35.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,368 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $57,542.40. Following the completion of the transaction, the chief financial officer now owns 37,270 shares in the company, valued at approximately $905,661. This represents a 5.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total transaction of $128,044.80. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at $546,680.16. This trade represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,401 shares of company stock worth $437,453 over the last 90 days. 7.20% of the stock is currently owned by insiders.

Nurix Therapeutics Profile

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.