Legal & General Group Plc Takes $1.75 Million Position in Nurix Therapeutics, Inc. $NRIX

Legal & General Group Plc bought a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 72,026 shares of the company’s stock, valued at approximately $1,747,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Nurix Therapeutics in the second quarter valued at approximately $212,769,000. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth approximately $92,899,000. Morgan Stanley boosted its holdings in shares of Nurix Therapeutics by 115.9% in the 4th 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 in the last quarter. Rubric Capital Management LP acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $46,930,000. Finally, Braidwell LP purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at $41,428,000.

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 1,452 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $25.47, for a total transaction of $36,982.44. Following the completion of the sale, the insider directly owned 117,227 shares of the company’s stock, valued at $2,985,771.69. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total value of $115,977.96. Following the sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This 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. Insiders have sold 26,766 shares of company stock valued at $626,343 in the last quarter. Insiders own 6.70% of the company’s stock.

Nurix Therapeutics Price Performance

NRIX stock opened at $26.14 on Monday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -7.58 and a beta of 1.80. The company has a fifty day moving average price of $24.91 and a 200 day moving average price of $19.36. Nurix Therapeutics, Inc. has a 12 month low of $8.19 and a 12 month high of $28.23.

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

Analyst Upgrades and Downgrades

NRIX has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, August 4th. Wall Street Zen lowered Nurix Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Wells Fargo & Company downgraded Nurix Therapeutics from an “overweight” rating to a “hold” rating and reduced their target price for the company from $28.00 to $25.00 in a report on Monday, June 8th. Finally, Mizuho upped their target price on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.21.

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.