Fred Alger Management LLC Invests $794,000 in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Fred Alger Management LLC purchased a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 38,066 shares of the company’s stock, valued at approximately $794,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Redmile Group LLC boosted its stake in shares of Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock worth $65,900,000 after buying an additional 1,226,497 shares during the last quarter. Candriam S.C.A. boosted its stake in shares of Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after buying an additional 272,136 shares during the last quarter. Affinity Asset Advisors LLC boosted its stake in shares of Nurix Therapeutics by 17.4% in the 1st quarter. Affinity Asset Advisors LLC now owns 810,253 shares of the company’s stock worth $11,911,000 after buying an additional 120,141 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Nurix Therapeutics by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock worth $6,422,000 after buying an additional 53,721 shares during the last quarter. Finally, Samlyn Capital LLC purchased a new position in shares of Nurix Therapeutics in the 2nd quarter worth $12,177,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HC Wainwright boosted their price target on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Barclays lifted their price objective on Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Truist Financial assumed coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Finally, Needham & Company LLC lowered their price objective on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Nurix Therapeutics Trading Down 0.7 %

NASDAQ NRIX opened at $23.05 on Friday. The stock’s 50 day moving average is $23.14 and its 200 day moving average is $18.60. Nurix Therapeutics, Inc. has a 12 month low of $4.22 and a 12 month high of $26.31. The stock has a market cap of $1.13 billion, a PE ratio of -7.89 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.09 million during the quarter, compared to the consensus estimate of $19.35 million. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.95 EPS for the current fiscal year.

Insider Activity

In related news, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the sale, the insider now owns 45,150 shares in the company, valued at approximately $933,250.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,815 shares of company stock valued at $1,416,751. 7.20% of the stock is currently owned by 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.