Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) CFO Sells $66,516.10 in Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) CFO Houte Hans Van sold 2,845 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $23.38, for a total value of $66,516.10. Following the transaction, the chief financial officer directly owned 44,927 shares of the company’s stock, valued at approximately $1,050,393.26. This trade represents a 5.96% 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, May 5th, Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock. The shares were sold at an average price of $16.60, for a total value of $233,313.00.

Nurix Therapeutics Stock Down 1.6%

Shares of NRIX opened at $23.21 on Friday. The company has a market capitalization of $2.41 billion, a PE ratio of -6.73 and a beta of 1.80. The company has a 50-day simple moving average of $20.54 and a 200-day simple moving average of $17.85. Nurix Therapeutics, Inc. has a 52-week low of $8.19 and a 52-week high of $25.08.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on NRIX. Wells Fargo & Company cut Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their price target for the stock from $28.00 to $25.00 in a report on Monday, June 8th. BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Nurix Therapeutics in a research report on Friday, July 10th. Jefferies Financial Group raised their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Finally, Morgan Stanley increased their price objective on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NRIX. Larson Financial Group LLC grew its holdings in Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after buying an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics in the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Nurix Therapeutics during the fourth quarter worth approximately $33,000. KBC Group NV bought a new stake in shares of Nurix Therapeutics during the 1st quarter worth $34,000. Finally, Wexford Capital LP purchased a new position in Nurix Therapeutics in the 3rd quarter worth about $41,000.

Nurix Therapeutics Company Profile

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.