Lord Abbett & CO. LLC Makes New Investment in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Lord Abbett & CO. LLC purchased a new position in shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 350,640 shares of the company’s stock, valued at approximately $7,879,000.

A number of other large investors also recently made changes to their positions in NRIX. Bank of New York Mellon Corp lifted its position in Nurix Therapeutics by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock worth $4,365,000 after buying an additional 49,918 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nurix Therapeutics by 762.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,207 shares of the company’s stock worth $317,000 after purchasing an additional 13,444 shares during the last quarter. RAM Investment Partners LLC purchased a new position in Nurix Therapeutics during the second quarter worth approximately $361,000. Rhumbline Advisers boosted its holdings in shares of Nurix Therapeutics by 14.2% in the 2nd quarter. Rhumbline Advisers now owns 88,781 shares of the company’s stock valued at $1,853,000 after purchasing an additional 11,010 shares during the last quarter. Finally, TD Asset Management Inc purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at $593,000.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $20.81 on Tuesday. Nurix Therapeutics, Inc. has a 12-month low of $7.65 and a 12-month high of $29.56. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.15 and a beta of 2.11. The firm’s fifty day moving average price is $23.63 and its 200 day moving average price is $22.25.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.67). The business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. Analysts forecast that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,437 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $83,519.10. Following the transaction, the insider now directly owns 50,670 shares in the company, valued at $1,231,281. This represents a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total transaction of $128,044.80. Following the completion of the sale, the insider now directly owns 24,592 shares of the company’s stock, valued at $546,680.16. The trade was a 18.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,401 shares of company stock worth $437,453 in the last three months. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Monday, October 14th. Royal Bank of Canada reduced their price objective on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Oppenheimer increased their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. BMO Capital Markets initiated coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $30.35.

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.