Invesco Ltd. Decreases Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Invesco Ltd. trimmed its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 87.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,980 shares of the company’s stock after selling 361,360 shares during the period. Invesco Ltd. owned approximately 0.07% of Nurix Therapeutics worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after buying an additional 31,352 shares during the period. Barclays PLC grew its position in Nurix Therapeutics by 77.9% in the 3rd quarter. Barclays PLC now owns 128,344 shares of the company’s stock valued at $2,884,000 after acquiring an additional 56,190 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Nurix Therapeutics by 42.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock valued at $14,869,000 after acquiring an additional 235,971 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Nurix Therapeutics during the fourth quarter worth $1,026,000. Finally, Norges Bank purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at $6,006,000.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 2,438 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $28,037.00. Following the completion of the transaction, the chief financial officer now directly owns 39,922 shares of the company’s stock, valued at $459,103. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gwenn Hansen sold 3,377 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the completion of the sale, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,640 shares of company stock valued at $151,277. Corporate insiders own 7.40% of the company’s stock.

Nurix Therapeutics Stock Performance

NRIX stock opened at $11.16 on Friday. The company’s 50-day simple moving average is $12.13 and its 200 day simple moving average is $18.08. Nurix Therapeutics, Inc. has a 52 week low of $8.18 and a 52 week high of $29.56. The company has a market capitalization of $850.79 million, a PE ratio of -3.86 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.05. The company had revenue of $18.45 million for the quarter, compared to the consensus estimate of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same period last year, the company posted ($0.76) EPS. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Leerink Partners began coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.44.

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.