Nurix Stock Is Down 6% This Past Year, but One Biotech Fund Still Boosted Its Bet By $63 Million

Core Insights - Redmile Group acquired 4,415,514 shares of Nurix Therapeutics, valued at approximately $63.43 million, as disclosed in a SEC filing on February 17, 2026 [2][4] - The value of Redmile's position in Nurix increased by $119.55 million, reflecting both new purchases and stock price changes [2] - Nurix Therapeutics is focused on developing targeted therapies for cancer and immune disorders, leveraging partnerships with major pharmaceutical companies [6][8] Company Overview - As of February 17, 2026, Nurix Therapeutics had a market capitalization of $1.37 billion and a stock price of $15.64, which is down 6.52% over the past year [4][7] - The company reported a total revenue of $83.98 million for the trailing twelve months (TTM) but incurred a net loss of $264.46 million [4][9] - Nurix's cash and marketable securities stood at $592.9 million at the end of fiscal 2025, supported by a $250 million equity offering [9] Investment Implications - Despite recent stock performance trailing the broader market, Nurix's lead program, a BTK degrader, has shown promising Phase 1 data with an 83% objective response rate [7][9] - Redmile's investment in Nurix now constitutes 11.31% of its total assets under management (AUM), indicating a significant conviction in the company's potential [7][10] - The company is positioned to compete in the biopharmaceutical landscape with its innovative therapies targeting unmet needs in oncology and immunology [6][8]