ARK Investment Management LLC Acquires 601,952 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX)

ARK Investment Management LLC boosted its holdings in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 23.2% during the 4th quarter, Holdings Channel reports. The firm owned 3,194,999 shares of the company’s stock after buying an additional 601,952 shares during the period. ARK Investment Management LLC owned about 0.07% of Nurix Therapeutics worth $32,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Credit Suisse AG raised its stake in Nurix Therapeutics by 7.9% during the 2nd quarter. Credit Suisse AG now owns 15,619 shares of the company’s stock valued at $197,000 after purchasing an additional 1,145 shares during the period. Rhumbline Advisers raised its stake in Nurix Therapeutics by 4.9% during the 1st quarter. Rhumbline Advisers now owns 33,511 shares of the company’s stock valued at $469,000 after purchasing an additional 1,573 shares during the period. Principal Financial Group Inc. raised its stake in Nurix Therapeutics by 16.3% during the 1st quarter. Principal Financial Group Inc. now owns 12,804 shares of the company’s stock valued at $114,000 after purchasing an additional 1,793 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Nurix Therapeutics by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 384,840 shares of the company’s stock worth $3,417,000 after acquiring an additional 1,925 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Nurix Therapeutics by 21.3% in the 1st quarter. American Century Companies Inc. now owns 12,532 shares of the company’s stock worth $108,000 after acquiring an additional 2,200 shares during the last quarter.

Insider Activity

In related news, CFO Houte Hans Van sold 6,812 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at approximately $684,696.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 10,817 shares of company stock valued at $100,256. 7.20% of the stock is currently owned by insiders.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $14.54 on Thursday. The business’s 50 day moving average price is $10.92 and its 200-day moving average price is $8.74. Nurix Therapeutics, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $16.11.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.26). The company had revenue of $15.16 million for the quarter, compared to the consensus estimate of $30.66 million. Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. On average, equities research analysts expect that Nurix Therapeutics, Inc. will post -3.26 earnings per share for the current year.

Analyst Ratings Changes

NRIX has been the topic of a number of research reports. Morgan Stanley lifted their price objective on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada reduced their price objective on Nurix Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. HC Wainwright reduced their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

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.