Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) Insider Sells $38,913.60 in Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 1,452 shares of the business’s stock in a transaction that occurred 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 owned 123,452 shares of the company’s stock, valued at $3,308,513.60. This represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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.

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

• On Friday, October 30th, Gwenn Hansen sold 3,957 shares of Nurix Therapeutics stock. The shares were sold at an average price of $26.28, for a total transaction of $103,989.96.
• On Thursday, October 15th, Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock. The shares were sold at an average price of $25.00, for a total transaction of $36,300.00.
• On Tuesday, September 1st, Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock. The shares were 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 Price Performance

Shares of NRIX opened at $15.95 on Thursday. Nurix Therapeutics, Inc. has a 1-year low of $11.67 and a 1-year high of $28.23. The stock has a market cap of $1.74 billion, a PE ratio of 6.90 and a beta of 1.80. The firm has a fifty day moving average price of $24.73 and a 200 day moving average price of $20.25.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Tuesday, October 13th. The company reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $5.33. The company had revenue of $673.06 million during the quarter, compared to the consensus estimate of $24.35 million. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. As a group, equities analysts expect that Nurix Therapeutics, Inc. will post 1.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, October 13th. Morgan Stanley raised their price target on Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Oppenheimer lifted their price target on Nurix Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Robert W. Baird boosted their price objective on Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Finally, Royal Bank Of Canada decreased their price objective on Nurix Therapeutics from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.43.

Key Stories 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

Institutional Investors Weigh In On Nurix Therapeutics

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Nurix Therapeutics by 7.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,916 shares of the company’s stock worth $348,000 after purchasing an additional 1,072 shares during the period. AlphaCentric Advisors LLC lifted its stake in shares of Nurix Therapeutics by 4.5% in the 3rd quarter. AlphaCentric Advisors LLC now owns 27,006 shares of the company’s stock worth $640,000 after acquiring an additional 1,161 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Nurix Therapeutics in the 3rd quarter worth $126,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Nurix Therapeutics by 15.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,936 shares of the company’s stock worth $448,000 after acquiring an additional 2,479 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Nurix Therapeutics by 310.4% in the third quarter. Sterling Capital Management LLC now owns 2,885 shares of the company’s stock valued at $68,000 after acquiring an additional 2,182 shares in the last quarter.

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.