Millennium Management LLC Grows Stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Millennium Management LLC lifted its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 91.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 424,137 shares of the company’s stock after acquiring an additional 202,419 shares during the quarter. Millennium Management LLC owned 0.56% of Nurix Therapeutics worth $7,991,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of NRIX. US Bancorp DE increased its position in shares of Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after acquiring an additional 842 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $87,000. Summit Investment Advisors Inc. increased its position in shares of Nurix Therapeutics by 13.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock worth $138,000 after acquiring an additional 877 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $164,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $207,000.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the sale, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 2,438 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $28,037.00. Following the completion of the sale, the chief financial officer now owns 39,922 shares in the company, valued at approximately $459,103. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,838 shares of company stock valued at $221,500. 7.40% of the stock is currently owned by insiders.

Nurix Therapeutics Stock Down 2.7%

Nurix Therapeutics stock opened at $9.72 on Monday. The company’s fifty day simple moving average is $10.67 and its 200-day simple moving average is $16.24. Nurix Therapeutics, Inc. has a 12 month low of $8.18 and a 12 month high of $29.56. The stock has a market cap of $741.01 million, a P/E ratio of -3.36 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. The firm had revenue of $18.45 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted ($0.76) earnings per share. On average, equities research analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NRIX. Wells Fargo & Company dropped their target price on Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lifted their price target on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Finally, Wall Street Zen downgraded Nurix Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $30.44.

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.