Cubist Systematic Strategies LLC Invests $2.34 Million in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Cubist Systematic Strategies LLC purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 124,025 shares of the company’s stock, valued at approximately $2,337,000.

Several other institutional investors have also modified their holdings of the stock. Brevan Howard Capital Management LP acquired a new position in Nurix Therapeutics in the fourth quarter valued at approximately $405,000. Bank of America Corp DE lifted its holdings in Nurix Therapeutics by 9.3% in the fourth quarter. Bank of America Corp DE now owns 150,935 shares of the company’s stock valued at $2,844,000 after acquiring an additional 12,811 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Nurix Therapeutics in the fourth quarter valued at approximately $164,000. Ameriprise Financial Inc. lifted its holdings in Nurix Therapeutics by 111.1% in the fourth quarter. Ameriprise Financial Inc. now owns 32,152 shares of the company’s stock valued at $606,000 after acquiring an additional 16,921 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in Nurix Therapeutics in the fourth quarter valued at approximately $10,608,000.

Nurix Therapeutics Price Performance

NRIX stock opened at $9.50 on Monday. The firm has a market capitalization of $724.24 million, a P/E ratio of -3.29 and a beta of 2.23. The business’s 50-day moving average is $11.49 and its two-hundred day moving average is $17.35. Nurix Therapeutics, Inc. has a 1 year low of $8.18 and a 1 year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05. The business had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same period in the previous year, the company earned ($0.76) EPS. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Nurix Therapeutics from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada increased their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $30.44.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 6,198 shares of Nurix Therapeutics stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $11.33, for a total transaction of $70,223.34. Following the completion of the sale, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at approximately $382,092.92. The trade was a 15.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $38,835.50. Following the sale, the insider now directly owns 61,516 shares of the company’s stock, valued at approximately $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,838 shares of company stock valued at $221,500. Insiders own 7.40% of the company’s stock.

Nurix Therapeutics Company 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.