Ikarian Capital LLC Lowers Stock Holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Ikarian Capital LLC trimmed its position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 41.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,000 shares of the company’s stock after selling 180,500 shares during the quarter. Nurix Therapeutics accounts for approximately 0.8% of Ikarian Capital LLC’s investment portfolio, making the stock its 21st biggest position. Ikarian Capital LLC owned 0.37% of Nurix Therapeutics worth $5,842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in 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 acquiring an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after purchasing an additional 559 shares in the last quarter. GAMMA Investing LLC raised its position in Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after purchasing an additional 3,424 shares in the last quarter. International Assets Investment Management LLC raised its position in Nurix Therapeutics by 1,098.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Quest Partners LLC raised its position in Nurix Therapeutics by 21.3% in 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 in the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on NRIX. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, November 6th. Robert W. Baird began coverage on Nurix Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price target on the stock. UBS Group began coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $35.00 price target on the stock. HC Wainwright increased their price target on Nurix Therapeutics from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Nurix Therapeutics Price Performance

NASDAQ NRIX traded down $0.20 on Tuesday, reaching $21.29. The stock had a trading volume of 31,731 shares, compared to its average volume of 898,547. Nurix Therapeutics, Inc. has a 12-month low of $6.58 and a 12-month high of $29.56. The business’s 50-day moving average price is $24.02 and its 200 day moving average price is $21.84.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, meeting 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 company had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Christine Ring sold 3,290 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $25.00, for a total value of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at approximately $614,800. The trade was a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 2,368 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the transaction, the chief financial officer now directly owns 37,270 shares in the company, valued at approximately $905,661. The trade was a 5.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,401 shares of company stock worth $437,453. 9.80% of the stock is 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.