Sumitomo Mitsui Trust Group Inc. Sells 109,408 Shares of Nurix Therapeutics, Inc. $NRIX

Sumitomo Mitsui Trust Group Inc. lowered its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 8.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,181,146 shares of the company’s stock after selling 109,408 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.14% of Nurix Therapeutics worth $18,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NRIX. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $92,899,000. Vanguard Group Inc. increased its position in Nurix Therapeutics by 32.5% during the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after acquiring an additional 1,460,736 shares during the last quarter. Baker BROS. Advisors LP increased its position in shares of Nurix Therapeutics by 20.0% during the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after purchasing an additional 776,431 shares during the last quarter. Flax Pond Capital LLC bought a new position in Nurix Therapeutics in the fourth quarter worth approximately $1,521,000. Finally, Perceptive Advisors LLC raised its holdings in Nurix Therapeutics by 151.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,555,877 shares of the company’s stock worth $67,455,000 after purchasing an additional 2,139,728 shares during the period.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $22.71 on Tuesday. The stock has a 50-day moving average of $18.56 and a two-hundred day moving average of $17.38. The stock has a market cap of $2.36 billion, a PE ratio of -6.58 and a beta of 1.80. Nurix Therapeutics, Inc. has a one year low of $8.19 and a one year high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The company had revenue of $9.04 million for the quarter, compared to analysts’ expectations of $15.29 million. As a group, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 5,394 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the transaction, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares in the company, valued at $624,027.20. The trade was a 27.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 25,051 shares of company stock worth $434,466. 6.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NRIX shares. Royal Bank Of Canada raised their target price on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial boosted their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer initiated coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They set an “outperform” rating and a $28.00 price target on the stock. Wall Street Zen upgraded Nurix Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. Finally, Mizuho raised their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.08.

Nurix Therapeutics Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.