Fred Alger Management LLC Increases Stock Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Fred Alger Management LLC grew its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) by 336.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,014 shares of the company's stock after purchasing an additional 127,948 shares during the period. Fred Alger Management LLC owned approximately 0.23% of Nurix Therapeutics worth $3,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Amalgamated Bank grew its position in shares of Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company's stock valued at $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company's stock worth $54,000 after acquiring an additional 559 shares during the period. GAMMA Investing LLC grew its position in Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company's stock worth $95,000 after acquiring an additional 3,424 shares during the period. International Assets Investment Management LLC grew its position in Nurix Therapeutics by 1,098.4% in the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company's stock worth $101,000 after acquiring an additional 4,119 shares during the period. Finally, Quest Partners LLC grew its position in Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company's stock worth $168,000 after acquiring an additional 1,312 shares during the period.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX traded up $0.88 during mid-day trading on Friday, hitting $22.11. The company had a trading volume of 378,726 shares, compared to its average volume of 1,067,337. The company has a market capitalization of $1.57 billion, a PE ratio of -7.60 and a beta of 2.20. Nurix Therapeutics, Inc. has a 1-year low of $5.95 and a 1-year high of $29.56. The business's 50-day simple moving average is $24.02 and its 200 day simple moving average is $21.84.

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

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,368 shares of Nurix Therapeutics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $57,542.40. Following the sale, the chief financial officer now owns 37,270 shares in the company, valued at approximately $905,661. The trade was a 5.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine Ring sold 5,760 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total value of $128,044.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $546,680.16. This represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,451 shares of company stock worth $663,160 over the last ninety days. Corporate insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NRIX. Royal Bank of Canada lowered their price objective on Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. Oppenheimer increased their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, November 6th. HC Wainwright raised their price target on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Finally, Stephens restated an "overweight" rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

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.