Redmile Group LLC Has $65.90 Million Stock Holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Redmile Group LLC lifted its stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 37.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,483,016 shares of the company’s stock after buying an additional 1,226,497 shares during the period. Nurix Therapeutics comprises about 2.4% of Redmile Group LLC’s holdings, making the stock its 12th largest position. Redmile Group LLC owned approximately 9.12% of Nurix Therapeutics worth $65,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NRIX. China Universal Asset Management Co. Ltd. increased its stake in Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after acquiring an additional 4,367 shares during the last quarter. Quest Partners LLC bought a new stake in Nurix Therapeutics during the fourth quarter worth about $59,000. EntryPoint Capital LLC purchased a new stake in shares of Nurix Therapeutics in the 1st quarter worth approximately $123,000. Jump Financial LLC purchased a new stake in shares of Nurix Therapeutics in the fourth quarter worth $158,000. Finally, New York State Common Retirement Fund grew its position in Nurix Therapeutics by 59.5% during the 4th quarter. New York State Common Retirement Fund now owns 16,156 shares of the company’s stock valued at $167,000 after purchasing an additional 6,025 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright boosted their price target on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Needham & Company LLC dropped their price target on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, June 5th. Robert W. Baird increased their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Barclays lifted their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.82.

Nurix Therapeutics Trading Down 3.1 %

Nurix Therapeutics stock traded down $0.69 during midday trading on Monday, hitting $21.25. 380,230 shares of the stock were exchanged, compared to its average volume of 980,724. Nurix Therapeutics, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $24.38. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -7.28 and a beta of 2.22. The stock’s 50-day simple moving average is $18.87 and its 200 day simple moving average is $14.58.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The firm had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. Equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the sale, the insider now owns 19,838 shares in the company, valued at $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christine Ring sold 1,596 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the completion of the transaction, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the transaction, the chief financial officer now owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,549 shares of company stock worth $271,888. 7.20% of the stock is currently owned by insiders.

About Nurix Therapeutics

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.