Houte Hans Van Sells 14,055 Shares of Nurix Therapeutics (NASDAQ:NRIX) Stock

Key Points

• CFO Houte Hans Van sold 14,055 Nurix shares on May 5 at an average price of $16.60 under a pre-arranged Rule 10b5-1 plan, cutting his stake by 27.21% to 37,592 shares (also sold 2,388 shares on April 30).
• Nurix shares traded at $16.60 (down $0.33) with a market cap of about $1.72 billion and a 1-year range of $8.19–$22.50, while the company reported weak results (Q1 EPS -$0.79 vs. -$0.76 expected; revenue $6.25M vs. $14.25M expected) and a negative PE.
• Analysts overall are bullish with a consensus rating of "Moderate Buy" and an average price target of $30.46, though opinions vary (majority Buy ratings but at least one Sell from Weiss Ratings).

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) CFO Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares of the company's stock, valued at $624,027.20. The trade was a 27.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Houte Hans Van also recently made the following trade(s):

• On Thursday, April 30th, Houte Hans Van sold 2,388 shares of Nurix Therapeutics stock. The shares were sold at an average price of $16.65, for a total value of $39,760.20.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX traded down $0.33 during mid-day trading on Tuesday, hitting $16.60. The company had a trading volume of 1,323,024 shares, compared to its average volume of 1,129,111. The company has a market capitalization of $1.72 billion, a PE ratio of -5.25 and a beta of 1.87. Nurix Therapeutics, Inc. has a 1-year low of $8.19 and a 1-year high of $22.50. The business's 50-day simple moving average is $15.83 and its 200 day simple moving average is $16.08.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.03). The company had revenue of $6.25 million during the quarter, compared to analyst estimates of $14.25 million. Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. On average, analysts expect that Nurix Therapeutics, Inc. will post -2.92 EPS for the current year.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Nurix Therapeutics by 11.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,557,479 shares of the company's stock valued at $14,391,000 after buying an additional 165,841 shares during the period. Handelsbanken Fonder AB boosted its holdings in Nurix Therapeutics by 85.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 520,000 shares of the company's stock valued at $4,805,000 after purchasing an additional 240,000 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Nurix Therapeutics by 75.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,467,600 shares of the company's stock valued at $65,780,000 after purchasing an additional 1,487,060 shares in the last quarter. Cinctive Capital Management LP boosted its holdings in Nurix Therapeutics by 64.5% in the 3rd quarter. Cinctive Capital Management LP now owns 191,015 shares of the company's stock valued at $1,765,000 after purchasing an additional 74,882 shares in the last quarter. Finally, Amova Asset Management Americas Inc. boosted its holdings in Nurix Therapeutics by 12.1% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,557,479 shares of the company's stock valued at $14,391,000 after purchasing an additional 168,205 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Monday, April 27th. Morgan Stanley set a $36.00 price target on Nurix Therapeutics and gave the stock an "overweight" rating in a research note on Thursday, January 8th. Piper Sandler increased their price target on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday, January 29th. Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.46.

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.

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