Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) Insider Sells 4,111 Shares of Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 4,111 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $100,143.96. Following the sale, the insider directly owned 117,227 shares in the company, valued at approximately $2,855,649.72. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 30th, Gwenn Hansen sold 3,847 shares of Nurix Therapeutics stock. The shares were sold at an average price of $23.38, for a total value of $89,942.86.
• 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 Price Performance

Shares of NASDAQ NRIX opened at $24.69 on Wednesday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -7.16 and a beta of 1.79. The firm’s 50 day simple moving average is $20.80 and its 200-day simple moving average is $17.92. Nurix Therapeutics, Inc. has a 12 month low of $8.19 and a 12 month high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Analysts anticipate that Nurix Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

NRIX has been the subject of a number of analyst reports. Oppenheimer assumed coverage on shares of Nurix Therapeutics in a research report on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective for the company. HC Wainwright lifted their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Jefferies Financial Group increased their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price objective on Nurix Therapeutics from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the company from $28.00 to $25.00 in a research note on Monday, June 8th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NRIX. General Atlantic L.P. acquired a new position in Nurix Therapeutics during the fourth quarter worth $92,899,000. Morgan Stanley increased its holdings in shares of Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after buying an additional 2,620,323 shares during the last quarter. Rubric Capital Management LP purchased a new position in Nurix Therapeutics in the fourth quarter worth approximately $46,930,000. Braidwell LP purchased a new stake in Nurix Therapeutics in the fourth quarter valued at $41,428,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Nurix Therapeutics by 195.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock worth $61,622,000 after purchasing an additional 2,149,268 shares during the period.

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.