Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) CFO Sells $74,477.52 in Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) CFO Hans van Houte sold 2,834 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $26.28, for a total value of $74,477.52. Following the completion of the sale, the chief financial officer directly owned 47,514 shares in the company, valued at approximately $1,248,667.92. This represents a 5.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Wednesday, November 4th, Hans van Houte sold 4,769 shares of Nurix Therapeutics stock. The shares were sold at an average price of $15.63, for a total value of $74,539.47.
• On Tuesday, August 4th, Hans van Houte sold 4,761 shares of Nurix Therapeutics stock. The stock was sold at an average price of $24.36, for a total value of $115,977.96.

Nurix Therapeutics Stock Down 38.2%

Shares of NRIX stock opened at $15.95 on Thursday. Nurix Therapeutics, Inc. has a twelve month low of $11.67 and a twelve month high of $28.23. The company has a market cap of $1.74 billion, a P/E ratio of 6.90 and a beta of 1.80. The business has a fifty day simple moving average of $24.73 and a 200 day simple moving average of $20.25.

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

Analysts Set New Price Targets

NRIX has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Thursday, October 15th. Wall Street Zen raised shares of Nurix Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Stifel Nicolaus set a $41.00 price target on shares of Nurix Therapeutics in a report on Tuesday, October 13th. HC Wainwright increased their price target on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Finally, Royal Bank Of Canada cut their price objective on Nurix Therapeutics from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Fourteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.43.

Key Nurix Therapeutics News

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

A number of institutional investors have recently added to or reduced their stakes in NRIX. Trails Edge Capital Partners LP bought a new stake in shares of Nurix Therapeutics in the second quarter worth $38,166,318. Bank of New York Mellon Corp acquired a new position in Nurix Therapeutics during the 2nd quarter worth about $6,614,000. Man Group plc acquired a new position in Nurix Therapeutics during the 2nd quarter worth about $2,076,000. Bank of America Corp DE bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at about $20,429,000. Finally, Perceptive Advisors LLC grew its position in shares of Nurix Therapeutics by 4.4% in 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 during the last quarter.

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.