Cinctive Capital Management LP Purchases 53,744 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Cinctive Capital Management LP grew its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 51.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,972 shares of the company's stock after buying an additional 53,744 shares during the quarter. Cinctive Capital Management LP owned 0.21% of Nurix Therapeutics worth $2,995,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its position in Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after purchasing an additional 842 shares in the last quarter. Quarry LP increased its stake in shares of Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $56,000 after purchasing an additional 2,435 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth $209,000. EP Wealth Advisors LLC bought a new stake in shares of Nurix Therapeutics during the 3rd quarter worth $240,000. Finally, EntryPoint Capital LLC acquired a new stake in Nurix Therapeutics in the fourth quarter valued at about $266,000.

Nurix Therapeutics Stock Down 1.4 %

Nurix Therapeutics stock traded down $0.14 during mid-day trading on Tuesday, hitting $9.59. 211,280 shares of the stock were exchanged, compared to its average volume of 912,503. The firm's fifty day simple moving average is $15.25 and its two-hundred day simple moving average is $19.75. Nurix Therapeutics, Inc. has a 12 month low of $8.60 and a 12 month high of $29.56. The stock has a market capitalization of $730.72 million, a price-to-earnings ratio of -3.34 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. As a group, analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NRIX. HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Needham & Company LLC dropped their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Leerink Partners assumed coverage on Nurix Therapeutics in a research note on Monday, March 17th. They issued a "market perform" rating and a $16.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.88.

Insider Activity

In other news, insider Gwenn Hansen sold 3,690 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares of the company's stock, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Houte Hans Van sold 2,811 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the sale, the chief financial officer now owns 39,549 shares of the company's stock, valued at $785,047.65. This represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $213,449 in the last ninety days. 7.20% of the stock is owned by company insiders.

Nurix Therapeutics Company 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.