ARK Investment Management LLC Sells 106,967 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

ARK Investment Management LLC lowered its stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,216,365 shares of the company’s stock after selling 106,967 shares during the period. ARK Investment Management LLC’s holdings in Nurix Therapeutics were worth $49,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmile Group LLC boosted its holdings 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 valued at $65,900,000 after buying an additional 1,226,497 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the second quarter worth about $26,778,000. Candriam S.C.A. increased its holdings in shares of Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after acquiring an additional 272,136 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in Nurix Therapeutics by 12.6% in the 2nd quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock worth $19,033,000 after purchasing an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC grew its position in Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after purchasing an additional 225,374 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Truist Financial began coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target on the stock. Oppenheimer lifted their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Jefferies Financial Group began coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 target price for the company. Finally, Royal Bank of Canada cut their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at approximately $781,870.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total value of $504,400.00. Following the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at $781,870.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gwenn Hansen sold 3,437 shares of Nurix Therapeutics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value of $83,519.10. Following the sale, the insider now directly owns 50,670 shares of the company’s stock, valued at $1,231,281. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,321 shares of company stock worth $1,414,409. Company insiders own 9.80% of the company’s stock.

Nurix Therapeutics Trading Up 0.9 %

NRIX stock opened at $27.24 on Friday. The business’s fifty day moving average price is $24.26 and its 200 day moving average price is $20.55. Nurix Therapeutics, Inc. has a 12-month low of $4.96 and a 12-month high of $28.42. The company has a market capitalization of $1.93 billion, a PE ratio of -9.36 and a beta of 2.20.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) 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 company had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Research analysts predict that Nurix Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Nurix Therapeutics 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.