Man Group plc Makes New $2.08 Million Investment in Nurix Therapeutics, Inc. $NRIX

Man Group plc purchased a new stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,583 shares of the company’s stock, valued at approximately $2,076,000. Man Group plc owned approximately 0.08% of Nurix Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Nurix Therapeutics in the 2nd quarter worth $212,769,000. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at $92,899,000. Morgan Stanley lifted its holdings in shares of Nurix Therapeutics by 115.9% during the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after purchasing an additional 2,620,323 shares during the last quarter. Rubric Capital Management LP acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $46,930,000. Finally, Braidwell LP acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $41,428,000.

Nurix Therapeutics Trading Up 1.0%

NASDAQ:NRIX opened at $26.04 on Wednesday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -7.55 and a beta of 1.80. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $28.23. The business’s fifty day moving average price is $24.65 and its 200 day moving average price is $19.14.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) 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 business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $15.29 million. Equities analysts forecast that Nurix Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 4,761 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the transaction, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. The trade was a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total transaction of $107,880.00. Following the transaction, the insider directly owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. 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. Insiders sold a total of 26,766 shares of company stock worth $626,343 in the last quarter. 6.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NRIX. Robert W. Baird boosted their price objective on Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Stifel Nicolaus raised their target price on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Morgan Stanley lifted their target price on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. HC Wainwright boosted their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Nurix Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Nurix Therapeutics Company 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.