Sumitomo Mitsui Trust Group Inc. Purchases New Shares in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in 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 fund purchased 553,251 shares of the company's stock, valued at approximately $12,432,000. Sumitomo Mitsui Trust Group Inc. owned about 0.78% of Nurix Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redmile Group LLC raised its holdings in shares of Nurix Therapeutics by 37.7% in the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company's stock valued at $65,900,000 after buying an additional 1,226,497 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics during the second quarter worth about $26,778,000. Candriam S.C.A. raised its holdings in Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company's stock worth $24,297,000 after purchasing an additional 272,136 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in Nurix Therapeutics by 12.6% during the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company's stock worth $19,033,000 after purchasing an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Nurix Therapeutics by 60.2% during the second quarter. Millennium Management LLC now owns 599,623 shares of the company's stock worth $12,514,000 after purchasing an additional 225,374 shares in the last quarter.

Nurix Therapeutics Trading Down 4.9 %

Shares of NRIX stock traded down $1.13 during trading hours on Monday, hitting $21.79. The company's stock had a trading volume of 1,926,705 shares, compared to its average volume of 907,237. The business has a fifty day moving average of $24.51 and a 200-day moving average of $21.34. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -7.49 and a beta of 2.20. Nurix Therapeutics, Inc. has a twelve month low of $5.65 and a twelve month high of $29.56.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a report on Friday, September 6th. They set an "outperform" rating and a $26.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They set a "buy" rating and a $41.00 price target for the company. UBS Group assumed coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $35.00 price target for the company. Truist Financial assumed coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They set a "buy" rating and a $36.00 target price on the stock. Finally, HC Wainwright upped their target price on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.40.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,546 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the transaction, the chief financial officer now owns 33,724 shares of the company's stock, valued at $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christine Ring sold 9,870 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.01, for a total transaction of $246,848.70. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $615,045.92. This represents a 28.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,321 shares of company stock worth $1,414,409. 7.20% of the stock is owned by insiders.

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.