BlackRock Inc. Buys Shares of 8,770,349 Nurix Therapeutics, Inc. $NRIX

BlackRock Inc. bought a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,770,349 shares of the company’s stock, valued at approximately $212,769,000. BlackRock Inc. owned 0.08% of Nurix Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nurix Therapeutics by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock valued at $593,000 after buying an additional 5,286 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Nurix Therapeutics by 106.2% during the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after purchasing an additional 450,262 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Nurix Therapeutics by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock valued at $6,029,000 after purchasing an additional 44,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Nurix Therapeutics by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock valued at $1,895,000 after purchasing an additional 12,817 shares during the period. Finally, Creative Planning acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $187,000.

Analysts Set New Price Targets

Several analysts have commented on NRIX shares. Robert W. Baird raised their target price on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Truist Financial lifted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th. Royal Bank Of Canada raised their target price on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Nurix Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.21.

Nurix Therapeutics Stock Up 0.6%

Shares of NASDAQ:NRIX opened at $26.88 on Friday. The company’s 50 day moving average price is $24.20 and its two-hundred day moving average price is $18.94. Nurix Therapeutics, Inc. has a 12-month low of $8.19 and a 12-month high of $28.23. The firm has a market cap of $2.79 billion, a PE ratio of -7.79 and a beta of 1.79.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The company had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. On average, research analysts expect that Nurix Therapeutics, Inc. will post -2.73 EPS for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,356 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total value of $108,900.00. Following the sale, the insider owned 117,227 shares of the company’s stock, valued at approximately $2,930,675. This trade represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the sale, the chief financial officer directly owned 40,166 shares in the company, valued at $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 25,314 shares of company stock valued at $589,361. Corporate insiders own 6.70% of the company’s stock.

Nurix Therapeutics Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.