Sumitomo Mitsui Trust Group Inc. Raises Stock Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 789,222 shares of the company’s stock after acquiring an additional 235,971 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.11% of Nurix Therapeutics worth $14,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC increased its holdings in Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after buying an additional 511,256 shares during the period. Lord Abbett & CO. LLC purchased a new position in Nurix Therapeutics during the third quarter valued at approximately $7,879,000. Patient Square Capital LP purchased a new position in Nurix Therapeutics during the third quarter valued at approximately $7,320,000. 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 valued at $78,243,000 after buying an additional 280,240 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nurix Therapeutics during the third quarter valued at approximately $3,152,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NRIX shares. UBS Group started coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. BTIG Research assumed coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price for the company. Finally, BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $31.12.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $17.31 on Thursday. The company has a market capitalization of $1.31 billion, a PE ratio of -5.99 and a beta of 2.14. The company has a fifty day moving average of $19.63 and a 200 day moving average of $22.22. Nurix Therapeutics, Inc. has a 1 year low of $8.37 and a 1 year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the transaction, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 2,811 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. 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.