Polymer Capital Management HK LTD Acquires Shares of 50,098 Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Polymer Capital Management HK LTD bought a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 50,098 shares of the company’s stock, valued at approximately $944,000. Polymer Capital Management HK LTD owned about 0.07% of Nurix Therapeutics as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in Nurix Therapeutics by 32.4% in the third quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the company’s stock worth $683,000 after purchasing an additional 7,441 shares during the last quarter. FMR LLC boosted its holdings in shares of Nurix Therapeutics by 675.9% in the 3rd 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 last quarter. Quarry LP grew its position in Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 2,435 shares during the period. Wellington Management Group LLP increased its holdings in Nurix Therapeutics by 8.8% during the third quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock worth $78,243,000 after buying an additional 280,240 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Nurix Therapeutics in the third quarter worth about $240,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NRIX shares. JPMorgan Chase & Co. decreased their price target on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. BTIG Research began coverage on Nurix Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price for the company. Needham & Company LLC dropped their price target on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $9.69 on Monday. The stock has a market cap of $738.73 million, a P/E ratio of -3.35 and a beta of 2.23. Nurix Therapeutics, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $29.56. The firm’s fifty day moving average price is $15.45 and its 200-day moving average price is $19.86.

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

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,825 shares of Nurix Therapeutics stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the sale, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at $488,660.76. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $213,449 over the last three months. 7.20% of the stock is owned by corporate 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.