Pictet Asset Management Holding SA Sells 741,462 Shares of Nurix Therapeutics, Inc. $NRIX

Pictet Asset Management Holding SA reduced its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,726,138 shares of the company’s stock after selling 741,462 shares during the period. Pictet Asset Management Holding SA’s holdings in Nurix Therapeutics were worth $42,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. General Atlantic L.P. acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $92,899,000. Vanguard Group Inc. grew its stake in shares of Nurix Therapeutics by 32.5% during the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock worth $112,862,000 after purchasing an additional 1,460,736 shares during the period. Flax Pond Capital LLC acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth $1,521,000. Baker BROS. Advisors LP increased its holdings in Nurix Therapeutics by 20.0% in the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after purchasing an additional 776,431 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Nurix Therapeutics by 85.7% in the third quarter. Handelsbanken Fonder AB now owns 520,000 shares of the company’s stock valued at $4,805,000 after purchasing an additional 240,000 shares during the last quarter.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 5,394 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the completion of the sale, the insider directly owned 115,005 shares of the company’s stock, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the sale, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $624,027.20. The trade was a 27.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,051 shares of company stock valued at $434,466 over the last quarter. 6.70% of the stock is owned by insiders.

Nurix Therapeutics Trading Up 1.7%

NRIX stock opened at $24.26 on Wednesday. The business’s 50-day moving average price is $17.26 and its two-hundred day moving average price is $17.06. The firm has a market cap of $2.51 billion, a PE ratio of -7.68 and a beta of 1.86. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $24.88.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.03). Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NRIX shares. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Nurix Therapeutics in a report on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their price target for the company from $28.00 to $25.00 in a research report on Monday, June 8th. Jefferies Financial Group lifted their price objective on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Truist Financial boosted their price objective on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.20.

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.