Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) Insider Sells $89,942.86 in Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 3,847 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $23.38, for a total value of $89,942.86. Following the completion of the transaction, the insider directly owned 121,338 shares of the company’s stock, valued at approximately $2,836,882.44. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Thursday, June 25th, Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock. The stock was sold at an average price of $20.00, for a total value of $107,880.00.

Nurix Therapeutics Trading Down 1.6%

Shares of NASDAQ:NRIX opened at $23.21 on Friday. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $25.08. The firm has a market capitalization of $2.41 billion, a PE ratio of -6.73 and a beta of 1.80. The business’s 50 day moving average is $20.54 and its 200-day moving average is $17.85.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The firm had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.84 EPS for the current year.

Analyst Upgrades and Downgrades

NRIX has been the subject of a number of recent research reports. Oppenheimer began coverage on shares of Nurix Therapeutics in a research note on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective for the company. Mizuho lifted their target price on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 10th. BTIG Research reissued a “buy” rating and issued a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Finally, Truist Financial increased their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in NRIX. Handelsbanken Fonder AB increased its position in shares of Nurix Therapeutics by 15.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 633,000 shares of the company’s stock worth $15,357,000 after purchasing an additional 86,000 shares in the last quarter. Perceptive Advisors LLC boosted its position in Nurix Therapeutics by 4.4% in the first quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock valued at $57,519,000 after buying an additional 155,000 shares in the last quarter. Bank of America Corp DE grew its stake in Nurix Therapeutics by 8.9% during the first quarter. Bank of America Corp DE now owns 802,153 shares of the company’s stock worth $12,433,000 after buying an additional 65,595 shares during the last quarter. Stempoint Capital LP bought a new stake in Nurix Therapeutics during the first quarter worth about $4,886,000. Finally, California State Teachers Retirement System grew its stake in Nurix Therapeutics by 45.6% during the first quarter. California State Teachers Retirement System now owns 99,042 shares of the company’s stock worth $1,535,000 after buying an additional 31,023 shares during the last quarter.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.