Nurix Therapeutics (NASDAQ:NRIX) Insider Sells $103,989.96 in Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 3,957 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $26.28, for a total transaction of $103,989.96. Following the completion of the sale, the insider directly owned 123,452 shares of the company’s stock, valued at approximately $3,244,318.56. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gwenn Hansen also recently made the following trade(s):

• On Monday, November 2nd, Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock. The stock was sold at an average price of $26.80, for a total transaction of $38,913.60.
• On Thursday, October 15th, Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock. The stock was sold at an average price of $25.00, for a total value of $36,300.00.
• On Tuesday, September 1st, Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock. The stock was sold at an average price of $25.47, for a total transaction of $36,982.44.
• On Wednesday, August 5th, Gwenn Hansen sold 4,356 shares of Nurix Therapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $108,900.00.
• On Tuesday, August 4th, Gwenn Hansen sold 4,111 shares of Nurix Therapeutics stock. The stock was sold at an average price of $24.36, for a total transaction of $100,143.96.

Nurix Therapeutics Stock Performance

NRIX stock opened at $15.95 on Thursday. Nurix Therapeutics, Inc. has a fifty-two week low of $11.67 and a fifty-two week high of $28.23. The business’s 50-day moving average is $24.73 and its two-hundred day moving average is $20.25. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 6.90 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Tuesday, October 13th. The company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $5.33. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. The firm had revenue of $673.06 million during the quarter, compared to analyst estimates of $24.35 million. Equities analysts predict that Nurix Therapeutics, Inc. will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Nurix Therapeutics in the 2nd quarter worth about $212,769,000. Perceptive Advisors LLC increased its stake in Nurix Therapeutics by 4.4% during the 1st quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock valued at $57,519,000 after purchasing an additional 155,000 shares in the last quarter. Trails Edge Capital Partners LP bought a new position in Nurix Therapeutics in the 2nd quarter valued at about $38,166,318. Bank of America Corp DE bought a new stake in Nurix Therapeutics during the second quarter worth $20,429,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Nurix Therapeutics by 15.7% in the second quarter. Handelsbanken Fonder AB now owns 633,000 shares of the company’s stock valued at $15,357,000 after purchasing an additional 86,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on NRIX. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Thursday, October 15th. Stifel Nicolaus set a $41.00 price target on Nurix Therapeutics in a report on Tuesday, October 13th. Mizuho increased their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Wall Street Zen raised Nurix Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, October 13th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $34.43.

Trending Headlines about Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Neutral Sentiment: Wells Fargo lowered its price target for NRIX from $25 to $20 but maintained an “overweight” rating, signaling continued optimism despite reduced expectations. Wells Fargo price target
• Neutral Sentiment: CFO Hans van Houte sold 4,769 shares under a pre-arranged Rule 10b5-1 plan. The planned sale may draw attention, though it is less indicative of a new view on the company than an unplanned transaction. SEC filing
• Negative Sentiment: Sanofi is discontinuing its Phase 1 trial and terminating the program for SAR448272, an oral STAT6 degrader licensed from Nurix. Losing a partnered clinical program weakens the pipeline’s potential value and appears to be the main catalyst behind the selloff. BioSpace reported the decision was not related to the drug’s target, which may help distinguish the setback from a broader issue with STAT6. Nurix announcement BioSpace report

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the activity and abundance of proteins involved in cancer and immune-related diseases. Its research is based on targeted protein modulation, including the use of the ubiquitin-proteasome system and E3 ligases to selectively eliminate or modify disease-causing proteins.

The company’s pipeline includes oral targeted protein degraders and other small-molecule therapies. Its investigational programs include NX-5948, a Bruton’s tyrosine kinase (BTK) degrader being studied in B-cell malignancies and autoimmune diseases, and NX-2127, an orally administered BTK degrader designed to combine BTK degradation with immune-system modulation.