Trails Edge Capital Partners LP Takes Position in Nurix Therapeutics, Inc. $NRIX

Trails Edge Capital Partners LP purchased a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,573,220 shares of the company’s stock, valued at approximately $38,166,318,000. Nurix Therapeutics accounts for about 6.1% of Trails Edge Capital Partners LP’s portfolio, making the stock its 2nd largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Nurix Therapeutics during the second quarter worth $212,769,000. Vanguard Group Inc. lifted its stake in Nurix Therapeutics by 32.5% in the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after buying an additional 1,460,736 shares during the period. General Atlantic L.P. acquired a new position in Nurix Therapeutics in the fourth quarter valued at about $92,899,000. Morgan Stanley boosted its holdings in Nurix Therapeutics by 115.9% during the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after buying an additional 2,620,323 shares during the last quarter. Finally, Vestal Point Capital LP boosted its holdings in Nurix Therapeutics by 35.0% during the fourth quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after buying an additional 1,215,000 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Mizuho increased their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Truist Financial lifted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. UBS Group boosted their price objective on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, HC Wainwright upped their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.21.

Insider Activity

In other news, insider Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the transaction, the insider owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $115,977.96. Following the completion of the transaction, the chief financial officer owned 40,166 shares of the company’s stock, valued at $978,443.76. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,314 shares of company stock worth $589,361 in the last quarter. 6.70% of the stock is currently owned by company insiders.

Nurix Therapeutics Trading Up 2.6%

NRIX stock opened at $26.95 on Wednesday. The business’s 50-day moving average price is $23.82 and its two-hundred day moving average price is $18.79. The firm has a market cap of $2.80 billion, a PE ratio of -7.81 and a beta of 1.79. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.73 earnings per share for the current year.

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.