Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Nurix Therapeutics, Inc. $NRIX

Sumitomo Mitsui Trust Group Inc. boosted its position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,557,479 shares of the company’s stock after purchasing an additional 165,841 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 2.03% of Nurix Therapeutics worth $14,391,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after acquiring an additional 3,475 shares in the last quarter. Velan Capital Investment Management LP bought a new position in shares of Nurix Therapeutics during the second quarter valued at approximately $114,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Nurix Therapeutics during the second quarter valued at approximately $141,000. Sei Investments Co. purchased a new position in shares of Nurix Therapeutics during the second quarter valued at approximately $158,000. Finally, KLP Kapitalforvaltning AS boosted its position in shares of Nurix Therapeutics by 38.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 15,400 shares of the company’s stock worth $175,000 after purchasing an additional 4,300 shares in the last quarter.

Insider Activity

In other news, CFO Houte Hans Van sold 6,284 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $12.56, for a total transaction of $78,927.04. Following the completion of the transaction, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at $472,155.52. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gwenn Hansen sold 4,087 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $12.80, for a total transaction of $52,313.60. Following the transaction, the insider owned 76,751 shares in the company, valued at approximately $982,412.80. This trade represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,501 shares of company stock worth $171,305 in the last 90 days. Company insiders own 7.40% of the company’s stock.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $19.21 on Friday. Nurix Therapeutics, Inc. has a one year low of $8.18 and a one year high of $22.50. The stock has a market capitalization of $1.48 billion, a PE ratio of -6.47 and a beta of 1.93. The business’s fifty day moving average is $17.49 and its 200 day moving average is $12.96.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NRIX. Truist Financial initiated coverage on Nurix Therapeutics in a research report on Monday, November 24th. They set a “buy” rating and a $30.00 price objective for the company. BTIG Research raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Wells Fargo & Company lifted their price target on Nurix Therapeutics from $21.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Nurix Therapeutics in a research note on Monday, December 8th. Finally, HC Wainwright raised their price objective on shares of Nurix Therapeutics from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.13.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.