Driehaus Capital Management LLC Takes $26.78 Million Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Driehaus Capital Management LLC acquired a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,283,108 shares of the company’s stock, valued at approximately $26,778,000. Driehaus Capital Management LLC owned about 2.61% of Nurix Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Nurix Therapeutics by 25.0% in the second quarter. The Manufacturers Life Insurance Company now owns 22,942 shares of the company’s stock valued at $479,000 after buying an additional 4,583 shares in the last quarter. Millennium Management LLC grew its stake in shares of Nurix Therapeutics by 60.2% in the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after buying an additional 225,374 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Nurix Therapeutics in the second quarter valued at $201,000. Deerfield Management Company L.P. Series C grew its stake in shares of Nurix Therapeutics by 66.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 27,507 shares of the company’s stock valued at $574,000 after buying an additional 10,990 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Nurix Therapeutics by 76.8% in the second quarter. AQR Capital Management LLC now owns 21,296 shares of the company’s stock valued at $444,000 after buying an additional 9,254 shares in the last quarter.

Nurix Therapeutics Stock Performance

NRIX opened at $23.05 on Friday. Nurix Therapeutics, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $26.31. The company has a market capitalization of $1.13 billion, a P/E ratio of -7.89 and a beta of 2.23. The stock has a fifty day moving average of $23.14 and a 200-day moving average of $18.63.

Nurix Therapeutics (NASDAQ:NRIX) last posted its 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). The firm had revenue of $12.09 million for the quarter, compared to analyst estimates of $19.35 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. On average, equities research analysts predict that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NRIX. Piper Sandler reissued an “overweight” rating and issued a $35.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. HC Wainwright lifted their price objective on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Truist Financial assumed coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.00.

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 9,050 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $24.94, for a total value of $225,707.00. Following the completion of the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $613,324.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Christine Ring sold 9,050 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $24.94, for a total value of $225,707.00. Following the completion of the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $613,324.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. The disclosure for this sale can be found here. Insiders sold a total of 59,815 shares of company stock valued at $1,416,751 over the last quarter. 7.20% of the stock is owned by corporate 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.