ARK Investment Management LLC Acquires 601,952 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

ARK Investment Management LLC raised its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,194,999 shares of the company’s stock after purchasing an additional 601,952 shares during the quarter. ARK Investment Management LLC owned 6.59% of Nurix Therapeutics worth $32,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Nurix Therapeutics by 48.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock worth $4,469,000 after acquiring an additional 184,617 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in Nurix Therapeutics by 192.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 163,623 shares of the company’s stock worth $1,286,000 after acquiring an additional 107,719 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Nurix Therapeutics by 40.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 183,923 shares of the company’s stock worth $1,446,000 after acquiring an additional 53,429 shares during the last quarter. Raymond James & Associates boosted its holdings in Nurix Therapeutics by 6.0% during the 3rd quarter. Raymond James & Associates now owns 97,988 shares of the company’s stock worth $770,000 after acquiring an additional 5,547 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Nurix Therapeutics during the 3rd quarter worth $162,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NRIX shares. Royal Bank of Canada cut their price objective on shares of Nurix Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a report on Friday, February 16th. HC Wainwright cut their price target on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Finally, Wells Fargo & Company cut their price target on shares of Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.40.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.02, for a total transaction of $68,256.24. Following the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at $684,696.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 10,817 shares of company stock valued at $100,256 over the last three months. 7.20% of the stock is currently owned by insiders.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $14.54 on Thursday. The company’s 50-day moving average is $10.92 and its 200 day moving average is $8.74. Nurix Therapeutics, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $16.11.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.26). The business had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $30.66 million. Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. On average, analysts predict that Nurix Therapeutics, Inc. will post -3.26 earnings per share for the current fiscal year.

About Nurix Therapeutics

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.