Nurix Therapeutics, Inc. (NASDAQ:NRIX) Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,768,917 shares of the company’s stock after selling 19,613 shares during the period. Pictet Asset Management Holding SA owned approximately 2.33% of Nurix Therapeutics worth $33,326,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Nurix Therapeutics during the fourth quarter valued at approximately $6,006,000. NEOS Investment Management LLC purchased a new position in Nurix Therapeutics during the 4th quarter valued at about $425,000. EntryPoint Capital LLC purchased a new position in Nurix Therapeutics during the fourth quarter valued at approximately $266,000. Corebridge Financial Inc. increased its stake in shares of Nurix Therapeutics by 2.3% in the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company’s stock worth $658,000 after acquiring an additional 770 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Nurix Therapeutics by 8.3% during the 4th quarter. Vanguard Group Inc. now owns 4,345,266 shares of the company’s stock worth $81,865,000 after purchasing an additional 333,452 shares in the last quarter.

Wall Street Analysts Forecast Growth

NRIX has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 target price for the company. Morgan Stanley boosted their price target on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC dropped their target price on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Nurix Therapeutics Stock Performance

Shares of NRIX stock opened at $12.15 on Monday. Nurix Therapeutics, Inc. has a 52-week low of $11.90 and a 52-week high of $29.56. The stock has a market cap of $922.03 million, a PE ratio of -4.20 and a beta of 2.18. The firm’s 50 day moving average price is $16.34 and its two-hundred day moving average price is $20.35.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. As a group, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 5,825 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $488,660.76. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares in the company, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,326 shares of company stock valued at $213,449. 7.20% of the stock is owned by corporate insiders.

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.