Sumitomo Mitsui Trust Group Inc. Acquires 635,668 Shares of Nurix Therapeutics, Inc. $NRIX

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 84.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,391,638 shares of the company’s stock after acquiring an additional 635,668 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 1.82% of Nurix Therapeutics worth $15,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NRIX. Goldman Sachs Group Inc. boosted its stake in shares of Nurix Therapeutics by 9.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock worth $6,029,000 after buying an additional 44,002 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of Nurix Therapeutics by 4.0% in the 1st quarter. ARK Investment Management LLC now owns 1,590,910 shares of the company’s stock worth $18,900,000 after buying an additional 60,617 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Nurix Therapeutics in the 1st quarter worth approximately $499,000. Vanguard Group Inc. boosted its stake in shares of Nurix Therapeutics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company’s stock worth $52,452,000 after buying an additional 69,856 shares during the last quarter. Finally, Vestal Point Capital LP boosted its stake in shares of Nurix Therapeutics by 132.1% in the 1st quarter. Vestal Point Capital LP now owns 1,125,552 shares of the company’s stock worth $13,372,000 after buying an additional 640,552 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on NRIX. HC Wainwright lowered their price target on shares of Nurix Therapeutics from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler lowered their price target on shares of Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Wednesday, October 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and an average target price of $26.73.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $11.70 on Thursday. The company’s fifty day simple moving average is $9.61 and its two-hundred day simple moving average is $10.60. Nurix Therapeutics, Inc. has a 1 year low of $8.18 and a 1 year high of $29.56. The stock has a market capitalization of $899.50 million, a price-to-earnings ratio of -3.94 and a beta of 2.33.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. The business had revenue of $7.89 million for the quarter, compared to the consensus estimate of $16.06 million. Equities research analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 5,402 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $11.03, for a total transaction of $59,584.06. Following the sale, the chief financial officer owned 35,512 shares of the company’s stock, valued at $391,697.36. The trade was a 13.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is 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.