Proficio Capital Partners LLC Takes Position in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Proficio Capital Partners LLC purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,952 shares of the company's stock, valued at approximately $376,000.

Other hedge funds have also bought and sold shares of the company. Amalgamated Bank raised its stake 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 buying an additional 511 shares during the period. Quest Partners LLC raised its stake in shares of Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company's stock valued at $168,000 after buying an additional 1,312 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Nurix Therapeutics by 8.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company's stock valued at $675,000 after purchasing an additional 2,329 shares in the last quarter. Quarry LP grew its position in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $56,000 after purchasing an additional 2,435 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Nurix Therapeutics by 21.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,020 shares of the company's stock valued at $283,000 after purchasing an additional 2,632 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 2,811 shares of the company'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 $55,798.35. Following the sale, the chief financial officer now directly owns 39,549 shares of the company's stock, valued at $785,047.65. This represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the company'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 value of $73,246.50. Following the sale, the insider now directly owns 55,937 shares in the company, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 over the last quarter. 7.20% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NRIX. BMO Capital Markets began coverage on Nurix Therapeutics in a research report on Friday, December 6th. They issued an "outperform" rating and a $35.00 price target for the company. Needham & Company LLC reduced their price target on Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Stifel Nicolaus boosted their target price on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $31.81.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX traded up $0.40 during midday trading on Friday, reaching $13.59. 680,828 shares of the company's stock traded hands, compared to its average volume of 875,925. Nurix Therapeutics, Inc. has a one year low of $11.90 and a one year high of $29.56. The stock has a 50 day moving average of $17.66 and a 200 day moving average of $21.28. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -4.70 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted 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 net margin of 354.85% and a negative return on equity of 53.65%. Sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

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.