Norges Bank Makes New $6.01 Million Investment in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Norges Bank purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 318,800 shares of the company's stock, valued at approximately $6,006,000. Norges Bank owned 0.42% of Nurix Therapeutics at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. US Bancorp DE grew its position in Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after acquiring an additional 842 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Nurix Therapeutics in the fourth quarter valued at approximately $209,000. EP Wealth Advisors LLC acquired a new position in shares of Nurix Therapeutics in the third quarter valued at approximately $240,000. EntryPoint Capital LLC bought a new position in Nurix Therapeutics in the 4th quarter valued at approximately $266,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Nurix Therapeutics by 21.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,020 shares of the company's stock worth $283,000 after acquiring an additional 2,632 shares during the last quarter.

Wall Street Analyst Weigh In

NRIX has been the subject of several analyst reports. Stephens reaffirmed an "overweight" rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Leerink Partners started coverage on Nurix Therapeutics in a research note on Monday, March 17th. They issued a "market perform" rating and a $16.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada boosted their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley upped their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $30.44.

Nurix Therapeutics Stock Up 0.9 %

Shares of NASDAQ:NRIX traded up $0.09 on Tuesday, hitting $9.94. 86,277 shares of the company traded hands, compared to its average volume of 895,182. The company has a market cap of $757.40 million, a PE ratio of -3.46 and a beta of 2.23. The stock has a 50 day simple moving average of $13.84 and a 200-day simple moving average of $19.06. Nurix Therapeutics, Inc. has a 52 week low of $8.18 and a 52 week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The firm had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same quarter in the previous year, the business earned ($0.76) earnings per share. As a group, sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares in the company, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,825 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the completion of the sale, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at approximately $488,660.76. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,326 shares of company stock worth $213,449. 7.20% of the stock is owned by 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.