Nikko Asset Management Americas Inc. Purchases 236,620 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Nikko Asset Management Americas Inc. raised its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 42.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 789,222 shares of the company’s stock after purchasing an additional 236,620 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Nurix Therapeutics were worth $14,869,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. US Bancorp DE grew its stake in shares of Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after purchasing an additional 842 shares during the period. Amalgamated Bank grew its stake in shares of Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after purchasing an additional 511 shares during the period. Quarry LP grew its stake in shares of Nurix Therapeutics by 3,746.2% during the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 2,435 shares during the period. Quest Partners LLC grew its stake in shares of Nurix Therapeutics by 21.3% during the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after purchasing an additional 1,312 shares during the period. Finally, Bellevue Group AG bought a new stake in shares of Nurix Therapeutics during the 3rd quarter valued at about $180,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NRIX shares. Stephens reiterated an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Morgan Stanley boosted their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. BTIG Research started coverage on Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective for the company. Needham & Company LLC cut their price objective on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price objective on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $31.81.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $13.59 on Monday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.70 and a beta of 2.18. Nurix Therapeutics, Inc. has a 1 year low of $11.90 and a 1 year high of $29.56. The business’s 50 day simple moving average is $17.54 and its 200-day simple moving average is $21.14.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Activity

In other news, insider Gwenn Hansen sold 3,690 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the transaction, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. This represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,326 shares of company stock valued at $213,449. 7.20% of the stock is currently owned by insiders.

Nurix Therapeutics Company 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.