Elmind Capital LP Makes New $8.73 Million Investment in Nurix Therapeutics, Inc. $NRIX

Elmind Capital LP bought a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 460,000 shares of the company’s stock, valued at approximately $8,726,000. Nurix Therapeutics comprises 2.6% of Elmind Capital LP’s portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NRIX. General Atlantic L.P. acquired a new position in Nurix Therapeutics during the 4th quarter worth $92,899,000. Morgan Stanley raised its position in shares of Nurix Therapeutics by 115.9% during the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after buying an additional 2,620,323 shares during the last quarter. Rubric Capital Management LP acquired a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $46,930,000. Braidwell LP acquired a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $41,428,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Nurix Therapeutics by 195.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock valued at $61,622,000 after buying an additional 2,149,268 shares during the last quarter.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,214 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $16.65, for a total value of $53,513.10. Following the sale, the insider owned 120,399 shares of the company’s stock, valued at $2,004,643.35. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $624,027.20. The trade was a 27.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 19,657 shares of company stock worth $326,586. 6.70% of the stock is currently owned by insiders.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $17.12 on Thursday. The firm has a market capitalization of $1.77 billion, a P/E ratio of -5.42 and a beta of 1.86. The company has a 50-day simple moving average of $16.51 and a 200-day simple moving average of $16.91. Nurix Therapeutics, Inc. has a 52 week low of $8.19 and a 52 week high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. As a group, equities analysts forecast that Nurix Therapeutics, Inc. will post -2.88 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BTIG Research upped their price objective on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Jefferies Financial Group upped their price objective on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Wells Fargo & Company lowered shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their price objective for the company from $28.00 to $25.00 in a research report on Monday, June 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of Nurix Therapeutics in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $32.14.

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.