Nurix Therapeutics (NASDAQ:NRIX) Share Price Crosses Below 200 Day Moving Average on Insider Selling

Nurix Therapeutics, Inc. (NASDAQ:NRIX) crossed below its 200-day moving average during trading on Wednesday following insider selling activity. The stock has a 200-day moving average of $20.25 and traded as low as $14.78. Nurix Therapeutics shares last traded at $15.95, with a volume of 19,553,840 shares changing hands.

Specifically, CFO Hans van Houte sold 4,769 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $15.63, for a total value of $74,539.47. Following the transaction, the chief financial officer directly owned 42,745 shares of the company’s stock, valued at approximately $668,104.35. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $26.80, for a total transaction of $38,913.60. Following the sale, the insider directly owned 123,452 shares of the company’s stock, valued at $3,308,513.60. This represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,957 shares of the company’s stock in a transaction 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 owned 123,452 shares in the company, valued at approximately $3,244,318.56. The trade was a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.

Wall Street Analysts Forecast Growth

NRIX has been the topic of several recent research reports. HC Wainwright raised their price target on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Stifel Nicolaus set a $41.00 price objective on Nurix Therapeutics in a report on Tuesday, October 13th. Wells Fargo & Company cut their target price on Nurix Therapeutics from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Thursday, October 15th. Finally, Truist Financial reduced their target price on Nurix Therapeutics from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.43.

Key Headlines Impacting 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 Stock Down 38.2%

The company’s fifty day moving average price is $24.73 and its two-hundred day moving average price 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 issued its quarterly earnings data on Tuesday, October 13th. The company reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $5.33. The business had revenue of $673.06 million for the quarter, compared to analyst estimates of $24.35 million. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. On average, equities research analysts predict that Nurix Therapeutics, Inc. will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Nurix Therapeutics by 95.4% during the third quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock worth $30,000 after buying an additional 620 shares in the last quarter. Nykredit A S bought a new stake in Nurix Therapeutics in the 2nd quarter valued at approximately $32,000. Integrated Wealth Concepts LLC bought a new stake in Nurix Therapeutics in the 2nd quarter valued at approximately $33,000. KBC Group NV bought a new stake in Nurix Therapeutics in the 1st quarter valued at approximately $34,000. Finally, Avalon Trust Co acquired a new position in Nurix Therapeutics during the 2nd quarter worth approximately $64,000.

About Nurix Therapeutics

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.