Cinctive Capital Management LP Buys New Stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Cinctive Capital Management LP purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) in the third quarter, HoldingsChannel reports. The institutional investor purchased 105,228 shares of the company’s stock, valued at approximately $2,364,000.

Other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in shares of Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after acquiring an additional 559 shares during the period. GAMMA Investing LLC raised its stake in Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after acquiring an additional 3,424 shares in the last quarter. International Assets Investment Management LLC raised its stake in Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after acquiring an additional 4,119 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after acquiring an additional 1,312 shares during the period.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 3,290 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total value of $82,250.00. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at approximately $614,800. This represents a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 3,546 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction of $86,096.88. Following the completion of the sale, the chief financial officer now owns 33,724 shares in the company, valued at approximately $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,401 shares of company stock worth $437,453 in the last ninety days. Company insiders own 9.80% of the company’s stock.

Nurix Therapeutics Stock Down 2.8 %

NRIX opened at $21.49 on Tuesday. The company has a fifty day moving average price of $24.02 and a two-hundred day moving average price of $21.84. Nurix Therapeutics, Inc. has a 52 week low of $6.58 and a 52 week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million during the quarter, compared to the consensus estimate of $13.85 million. As a group, research analysts predict that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, November 6th. Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 target price for the company. UBS Group assumed coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Robert W. Baird began coverage on Nurix Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $26.00 price target for the company. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Nurix Therapeutics 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.