Nurix Therapeutics (NASDAQ:NRIX) Stock: Insider Gwenn Hansen Sells 3,957 Shares

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 3,957 shares of Nurix Therapeutics stock in a transaction on Friday, October 30th. The shares were sold at an average price of $26.28, for a total value of $103,989.96. Following the completion of the transaction, the insider owned 123,452 shares of the company’s stock, valued at approximately $3,244,318.56. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $26.80, for a total value 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 value 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 value of $108,900.00.
• On Tuesday, August 4th, Gwenn Hansen sold 4,111 shares of Nurix Therapeutics stock. The shares were sold at an average price of $24.36, for a total value of $100,143.96.

Nurix Therapeutics Stock Up 0.5%

NRIX stock opened at $25.82 on Wednesday. The stock has a 50-day simple moving average of $24.95 and a two-hundred day simple moving average of $20.27. Nurix Therapeutics, Inc. has a twelve month low of $11.67 and a twelve month high of $28.23. The firm has a market capitalization of $2.82 billion, a PE ratio of 11.18 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $4.73 earnings per share (EPS) 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 the consensus estimate 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 anticipate that Nurix Therapeutics, Inc. will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NRIX. BlackRock Inc. bought a new position in shares of Nurix Therapeutics in the 2nd quarter worth $212,769,000. Perceptive Advisors LLC raised its position in shares of 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 buying an additional 155,000 shares in the last quarter. Trails Edge Capital Partners LP purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at $38,166,318. Bank of America Corp DE purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at $20,429,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Nurix Therapeutics by 81.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,696 shares of the company’s stock worth $12,094,000 after acquiring an additional 349,710 shares during the last quarter.

Nurix Therapeutics News Summary

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

Wall Street Analyst Weigh In

Several research analysts have commented on NRIX shares. Robert W. Baird raised 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 restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, October 15th. Morgan Stanley upped their price target on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Mizuho increased their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, BTIG Research reissued a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.79.

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.