SCHEDULE 13G/A: FMR LLC & Abigail Johnson Boost Nurix Therapeutics Stake

FMR LLC and Abigail P. Johnson reported an 11.5% beneficial ownership stake in Nurix Therapeutics Inc. common stock as of September 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Nurix Therapeutics Inc.
• They collectively beneficially own 8,787,537.12 shares of Nurix Therapeutics Inc. common stock.
• This ownership represents 11.5% of the total outstanding common stock of Nurix Therapeutics Inc.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• FMR LLC, a Delaware entity, holds sole voting power over 8,784,616.00 shares and sole dispositive power over 8,787,537.12 shares.
• Abigail P. Johnson, a U.S. citizen, holds sole dispositive power over 8,787,537.12 shares.
• Several FMR LLC subsidiaries, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, and Strategic Advisers LLC, are identified as entities that beneficially own shares.
• Abigail P. Johnson is a Director, the Chairman, and the Chief Executive Officer of FMR LLC, and is part of the Johnson family group which are predominant owners of FMR LLC's Series B voting common shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant and sustained institutional investment by FMR LLC and Abigail P. Johnson in Nurix Therapeutics Inc., suggesting continued confidence in the company's long-term prospects. The explicit statement that the investment is for ordinary course of business and not for control is a positive signal for stability.

Positives

• A significant institutional investor (FMR LLC) and its principal (Abigail P. Johnson) maintain a substantial 11.5% stake in Nurix Therapeutics Inc., indicating continued confidence in the company.
• The filing explicitly states the shares were acquired and are held in the ordinary course of business and not for control, suggesting a long-term, passive investment perspective rather than an activist one.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance from Nurix Therapeutics Inc. or the reporting persons regarding the issuer's future performance.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing indicates continued institutional interest in Nurix Therapeutics Inc., a biotechnology company. Large stakes by major investment firms like FMR LLC can signal confidence in the company's long-term prospects within the competitive biotech sector, particularly given the capital-intensive nature of drug development.

Comparison to Industry Standards

• FMR LLC, through its various subsidiaries (e.g., Fidelity Management & Research Company LLC), is a prominent institutional investor known for significant holdings across various sectors, including biotechnology.
• An 11.5% stake is a substantial passive investment, placing FMR LLC among the largest shareholders, which is common for major asset managers in their portfolio companies.
• This level of ownership is typical for institutional investors who take significant positions in companies they believe have strong growth potential, without seeking active control, aligning with the 'ordinary course of business' certification.

Stakeholder Impact

• Shareholders: The continued significant stake by a major institutional investor like FMR LLC may instill confidence among other shareholders, potentially stabilizing or positively influencing stock perception.
• Management: The passive nature of the investment (not for control) suggests that current management can continue executing its strategy without immediate pressure from this specific large shareholder to alter control.

Next Steps

• Nurix Therapeutics Inc. will continue its operations and strategic initiatives.
• FMR LLC and Abigail P. Johnson will continue to hold or adjust their investment in Nurix Therapeutics Inc. based on market conditions and company performance.

Key Dates

Recommendation

This Schedule 13G filing indicates a stable, significant institutional ownership by FMR LLC and Abigail P. Johnson, representing 11.5% of Nurix Therapeutics Inc. common stock. The investment is stated to be in the ordinary course of business and not for control, suggesting a long-term, passive position. While this signals continued confidence from a major investor, the filing itself does not provide new operational or financial performance data for Nurix Therapeutics Inc. that would warrant a change in investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on the absence of new negative or overwhelmingly positive operational news from this specific disclosure. Investors should look to other filings (e.g., 10-K, 10-Q) for performance-related insights.

Keywords

Nurix Therapeutics Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Common Stock, Institutional Ownership, Biotechnology, Investment Management, SEC Filing