Lord Abbett & CO. LLC Purchases Shares of 350,640 Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Lord Abbett & CO. LLC purchased a new stake in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 350,640 shares of the company's stock, valued at approximately $7,879,000. Lord Abbett & CO. LLC owned about 0.50% of Nurix Therapeutics at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Nurix Therapeutics by 80.7% during the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company's stock valued at $6,762,000 after acquiring an additional 144,700 shares during the last quarter. TD Asset Management Inc purchased a new position in shares of Nurix Therapeutics in the 2nd quarter worth $593,000. Candriam S.C.A. increased its holdings in shares of Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company's stock worth $24,297,000 after buying an additional 272,136 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Nurix Therapeutics by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company's stock worth $4,365,000 after buying an additional 49,918 shares during the last quarter. Finally, FMR LLC raised its position in shares of Nurix Therapeutics by 675.9% during the 3rd quarter. FMR LLC now owns 586,902 shares of the company's stock valued at $13,188,000 after buying an additional 511,256 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NRIX. UBS Group assumed coverage on Nurix Therapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $35.00 price objective on the stock. BTIG Research started coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They issued a "buy" rating and a $35.00 target price for the company. Stephens restated an "overweight" rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Monday, October 14th. Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They set an "outperform" rating and a $26.00 price objective for the company. Finally, HC Wainwright increased their target price on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.35.

Nurix Therapeutics Trading Up 1.8 %

Shares of Nurix Therapeutics stock traded up $0.37 during trading on Tuesday, hitting $21.18. 676,460 shares of the stock traded hands, compared to its average volume of 901,808. Nurix Therapeutics, Inc. has a 52-week low of $7.65 and a 52-week high of $29.56. The stock's fifty day simple moving average is $23.61 and its 200 day simple moving average is $22.29. The firm has a market cap of $1.50 billion, a P/E ratio of -7.28 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The business had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. As a group, equities analysts expect that Nurix Therapeutics, Inc. will post -2.81 EPS for the current year.

Insider Buying and Selling

In other news, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total value of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company's stock, valued at $614,800. The trade was a 11.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 2,368 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $57,542.40. Following the sale, the chief financial officer now directly owns 37,270 shares of the company's stock, valued at $905,661. The trade was a 5.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,401 shares of company stock valued at $437,453 over the last 90 days. Corporate insiders own 7.20% of the company's stock.

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.