Sumitomo Mitsui Trust Group Inc. Acquires New Holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 553,251 shares of the company’s stock, valued at approximately $12,432,000. Sumitomo Mitsui Trust Group Inc. owned about 0.78% of Nurix Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Amalgamated Bank raised its stake in shares of Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after acquiring an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nurix Therapeutics by 31.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after acquiring an additional 559 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after acquiring an additional 3,424 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after acquiring an additional 4,119 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Nurix Therapeutics during the first quarter worth $123,000.

Nurix Therapeutics Trading Down 14.7 %

Shares of NASDAQ NRIX opened at $22.92 on Monday. Nurix Therapeutics, Inc. has a 12 month low of $5.65 and a 12 month high of $29.56. The firm has a market capitalization of $1.62 billion, a PE ratio of -7.88 and a beta of 2.20. The firm has a fifty day simple moving average of $24.54 and a two-hundred day simple moving average of $21.28.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The firm had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NRIX has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Oppenheimer lifted their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 target price for the company. Finally, UBS Group initiated coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Nurix Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Insider Activity

In other news, CFO Houte Hans Van sold 2,368 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $57,542.40. Following the sale, the chief financial officer now owns 37,270 shares in the company, valued at $905,661. This trade represents a 5.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christine Ring sold 9,870 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.01, for a total transaction of $246,848.70. Following the completion of the transaction, the insider now directly owns 24,592 shares of the company’s stock, valued at approximately $615,045.92. This trade represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,321 shares of company stock valued at $1,414,409 in the last 90 days. 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.