Sumitomo Mitsui Trust Group Inc. cut its stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX – Free Report) by 12.2% in the third quarter, Holdings Channel reports. The firm owned 863,077 shares of the company’s stock after selling 120,385 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Nurix Therapeutics were worth $20,464,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of NRIX. BlackRock Inc. acquired a new position in Nurix Therapeutics during the 2nd quarter valued at approximately $212,769,000. Perceptive Advisors LLC lifted its stake in shares of Nurix Therapeutics by 4.4% during the first quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock worth $57,519,000 after buying an additional 155,000 shares during the period. Trails Edge Capital Partners LP acquired a new stake in shares of Nurix Therapeutics during the second quarter worth $38,166,318. Bank of America Corp DE purchased a new stake in shares of Nurix Therapeutics during the second quarter valued at $20,429,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Nurix Therapeutics by 15.7% during the second quarter. Handelsbanken Fonder AB now owns 633,000 shares of the company’s stock valued at $15,357,000 after buying an additional 86,000 shares during the last quarter.
Key Stories Impacting Nurix Therapeutics
Here are the key news stories impacting Nurix Therapeutics this week:
- Positive Sentiment: Nurix plans to present new and updated Phase 1a/1b data on bexobrutideg (NX-5948), its investigational BTK degrader for relapsed or refractory CLL/SLL, at the ASH annual meeting. The presentation may provide investors with fresh information on a key pipeline program, though the announcement does not disclose the results. Company announcement
- Neutral Sentiment: CFO Hans van Houte sold 4,769 shares under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by about 10%, but the planned nature of the transaction makes it less clearly a signal of a change in his outlook. Insider sale report
- Negative Sentiment: Sanofi discontinued development of SAR448272, a STAT6 degrader licensed from Nurix. The loss of a partnered program is the clearest near-term negative catalyst for NRIX; reporting indicates the decision was not related to the STAT6 target itself. BioSpace report
- Negative Sentiment: Wells Fargo lowered its price target from $25 to $20, although it retained an “overweight” rating. The cut reflects reduced expectations, even as the rating signals continued optimism. Report on the price-target change
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, October 15th. Stifel Nicolaus set a $41.00 target price on Nurix Therapeutics in a research note on Tuesday, October 13th. HC Wainwright lifted their price target on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Royal Bank Of Canada dropped their price target on Nurix Therapeutics from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Finally, UBS Group boosted their price target on Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.43.
Check Out Our Latest Stock Report on Nurix Therapeutics
Nurix Therapeutics Trading Down 7.0%
NRIX opened at $14.84 on Friday. Nurix Therapeutics, Inc. has a 12-month low of $11.67 and a 12-month high of $28.23. The firm has a market capitalization of $1.62 billion, a PE ratio of 6.42 and a beta of 1.80. The firm has a 50 day moving average of $24.49 and a two-hundred day moving average of $20.23.
Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The company reported $4.73 EPS for the quarter, beating the consensus estimate of ($0.60) by $5.33. The business had revenue of $673.06 million during the quarter, compared to analysts’ expectations of $24.35 million. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. As a group, analysts predict that Nurix Therapeutics, Inc. will post 1.14 EPS for the current fiscal year.
Insider Transactions at Nurix Therapeutics
In other news, CFO Hans van Houte sold 4,769 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $15.63, for a total value of $74,539.47. Following the sale, the chief financial officer owned 42,745 shares in the company, valued at $668,104.35. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Gregory sold 22,583 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $23.40, for a total transaction of $528,442.20. Following the transaction, the director directly owned 10,750 shares of the company’s stock, valued at approximately $251,550. This trade represents a 67.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,499 shares of company stock worth $893,645 over the last 90 days. 6.70% of the stock is currently owned by company insiders.
Nurix Therapeutics Company Profile
Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the activity and abundance of proteins involved in cancer and immune-related diseases. Its research is based on targeted protein modulation, including the use of the ubiquitin-proteasome system and E3 ligases to selectively eliminate or modify disease-causing proteins.
The company’s pipeline includes oral targeted protein degraders and other small-molecule therapies. Its investigational programs include NX-5948, a Bruton’s tyrosine kinase (BTK) degrader being studied in B-cell malignancies and autoimmune diseases, and NX-2127, an orally administered BTK degrader designed to combine BTK degradation with immune-system modulation.
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