Nurix Therapeutics (NASDAQ:NRIX) Stock: Insider Houte Hans Van Sells 2,834 Shares

Nurix Therapeutics, Inc. (NASDAQ:NRIX) CFO Hans van Houte sold 2,834 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $26.28, for a total value of $74,477.52. Following the transaction, the chief financial officer directly owned 47,514 shares of the company’s stock, valued at approximately $1,248,667.92. This trade represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Houte Hans Van also recently made the following trade(s):

• On Tuesday, August 4th, Hans van Houte sold 4,761 shares of Nurix Therapeutics stock. The shares were sold at an average price of $24.36, for a total value of $115,977.96.

Nurix Therapeutics Price Performance

NRIX opened at $25.82 on Wednesday. Nurix Therapeutics, Inc. has a 12 month low of $11.67 and a 12 month high of $28.23. The stock has a market capitalization of $2.82 billion, a P/E ratio of 11.18 and a beta of 1.80. The business has a 50 day simple moving average of $24.95 and a 200-day simple moving average of $20.27.

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

Key Nurix Therapeutics News

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

• Negative Sentiment: Sanofi is discontinuing the Phase 1 trial and terminating the SAR448272 program, an oral STAT6 degrader. The decision removes a program from Nurix’s partnered pipeline and could reduce potential future collaboration-related value; the companies did not disclose financial details in the announcement. Nurix announces Sanofi’s decision to discontinue SAR448272
• Neutral Sentiment: Insider Gwenn Hansen sold 1,452 shares, while CFO Hans van Houte sold 2,834 shares. The reported sales were made under pre-arranged plans to cover tax withholding obligations related to vested equity awards, which makes them less indicative of a change in confidence in the company. Nurix insider trading report

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NRIX. GAMMA Investing LLC grew its stake in Nurix Therapeutics by 95.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock valued at $30,000 after acquiring an additional 620 shares during the last quarter. Nykredit A S acquired a new position in Nurix Therapeutics during the second quarter worth about $32,000. Integrated Wealth Concepts LLC acquired a new position in Nurix Therapeutics during the second quarter worth about $33,000. KBC Group NV acquired a new stake in shares of Nurix Therapeutics in the first quarter valued at approximately $34,000. Finally, Avalon Trust Co acquired a new stake in shares of Nurix Therapeutics in the second quarter valued at approximately $64,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NRIX. Robert W. Baird increased their price target on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Thursday, October 15th. Royal Bank Of Canada lowered their target price on shares of Nurix Therapeutics from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley increased their target price on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, BTIG Research reiterated a “buy” rating and set a $32.00 price target on shares of Nurix Therapeutics 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.79.

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.