Farallon Capital Management LLC Acquires New Holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Farallon Capital Management LLC bought a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 108,799 shares of the company’s stock, valued at approximately $2,271,000. Farallon Capital Management LLC owned about 0.22% of Nurix Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $59,000. GAMMA Investing LLC boosted its position in shares of Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after purchasing an additional 3,424 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Nurix Therapeutics during the 1st quarter valued at about $123,000. China Universal Asset Management Co. Ltd. raised its stake in Nurix Therapeutics by 67.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after buying an additional 3,793 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $158,000.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of Nurix Therapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.81, for a total transaction of $119,865.60. Following the sale, the insider now owns 19,838 shares of the company’s stock, valued at approximately $412,828.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the sale, the insider now owns 45,150 shares of the company’s stock, valued at $933,250.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the completion of the sale, the insider now owns 19,838 shares of the company’s stock, valued at $412,828.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,815 shares of company stock worth $1,416,751. 7.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays lifted their target price 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. Oppenheimer raised their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial began coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective on the stock. Needham & Company LLC dropped their target price on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $24.10 on Tuesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of -8.25 and a beta of 2.23. The company’s fifty day moving average price is $22.99 and its 200 day moving average price is $18.40. Nurix Therapeutics, Inc. has a 1 year low of $4.22 and a 1 year high of $26.31.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results 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). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $19.35 million. Sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.95 EPS for the current year.

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.