Nurix Therapeutics (NASDAQ:NRIX) Stock: Insider Gwenn Hansen Sells 1,452 Shares

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $38,913.60. Following the completion of the transaction, the insider owned 123,452 shares of the company’s stock, valued at approximately $3,308,513.60. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Friday, October 30th, Gwenn Hansen sold 3,957 shares of Nurix Therapeutics stock. The stock was sold at an average price of $26.28, for a total value of $103,989.96.
• 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 shares were 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 shares were 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 Performance

Shares of Nurix Therapeutics stock opened at $25.82 on Wednesday. Nurix Therapeutics, Inc. has a one year low of $11.67 and a one year high of $28.23. The business has a 50-day simple moving average of $24.95 and a 200-day simple moving average of $20.27. The company has a market cap of $2.82 billion, a PE ratio of 11.18 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Tuesday, October 13th. The company reported $4.73 EPS for the quarter, topping the consensus estimate of ($0.60) by $5.33. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. The company had revenue of $673.06 million during the quarter, compared to analysts’ expectations of $24.35 million. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post 1.14 earnings per share for the current fiscal year.

Nurix Therapeutics News Roundup

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

Several large investors have recently modified their holdings of NRIX. Trails Edge Capital Partners LP purchased a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $38,166,318. Bank of New York Mellon Corp acquired a new stake in Nurix Therapeutics during the 2nd quarter worth $6,614,000. Man Group plc purchased a new stake in Nurix Therapeutics in the second quarter valued at $2,076,000. Bank of America Corp DE purchased a new stake in Nurix Therapeutics in the second quarter valued at $20,429,000. Finally, Perceptive Advisors LLC boosted its stake in Nurix Therapeutics by 4.4% in the first quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock valued at $57,519,000 after acquiring an additional 155,000 shares in the last quarter.

Analysts Set New Price Targets

NRIX has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, October 13th. Mizuho raised their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Stifel Nicolaus set a $41.00 price target on Nurix Therapeutics in a report on Tuesday, October 13th. Truist Financial lowered their price objective on Nurix Therapeutics from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. Finally, UBS Group increased their price objective on Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target 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.