Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) Director Sells 22,583 Shares of Company Stock

Key Points

• Nurix director Julia Gregory sold 22,583 shares at an average price of $23.40, generating approximately $528,442. After the transaction, her holdings fell 67.75% to 10,750 shares.
• Nurix reported a major quarterly beat, with earnings of $4.73 per share versus an expected $0.60 loss and revenue of $673.06 million versus a $24.35 million consensus estimate.
• Analysts remain broadly positive, with 13 Buy ratings and an average price target of $34.64 versus a recent share price near $23.67, though investors face clinical execution, higher-cost, and Roche partnership risks.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) Director Julia Gregory sold 22,583 shares of Nurix Therapeutics stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $23.40, for a total value of $528,442.20. Following the completion of the sale, the director directly owned 10,750 shares of the company's stock, valued at approximately $251,550. This represents a 67.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock traded up $1.54 during trading on Wednesday, hitting $23.67. The company's stock had a trading volume of 2,979,651 shares, compared to its average volume of 1,499,048. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -6.86 and a beta of 1.82. The stock's fifty day moving average is $25.17 and its 200 day moving average is $21.00. Nurix Therapeutics, Inc. has a 1-year low of $9.18 and a 1-year high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its earnings results on Monday, October 12th. The company reported $4.73 earnings per share for the quarter, topping the consensus estimate of ($0.60) by $5.33. Nurix Therapeutics had a return on equity of 62.20% and a net margin of 42.01%. The firm had revenue of $673.06 million for the quarter, compared to the consensus estimate of $24.35 million. On average, research analysts anticipate that Nurix Therapeutics, Inc. will post -2.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently modified their holdings of NRIX. BlackRock Inc. acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at about $212,769,000. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth about $92,899,000. Baker BROS. Advisors LP increased its position in Nurix Therapeutics by 20.0% during the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company's stock worth $88,373,000 after purchasing an additional 776,431 shares in the last quarter. Perceptive Advisors LLC increased its position in Nurix Therapeutics by 151.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,555,877 shares of the company's stock worth $67,455,000 after purchasing an additional 2,139,728 shares in the last quarter. Finally, Trails Edge Capital Partners LP acquired a new stake in Nurix Therapeutics during the 2nd quarter worth approximately $38,166,318.

Key Stories Impacting Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Q3 results significantly exceeded expectations. Nurix reported earnings of $4.73 per share versus the consensus estimate for a $0.60 loss, while revenue reached $673.06 million compared with expectations of $24.35 million. The results also represented a substantial improvement from the prior-year loss. Nurix Q3 earnings and revenue results
• Positive Sentiment: Analysts remain broadly bullish. Robert W. Baird raised its price target to $36 and maintained an outperform rating. Needham reaffirmed a buy rating with a $34 target, while Truist kept a buy rating and set a $33 target despite trimming its target from $34. These targets imply substantial upside from recent trading levels. Nurix analyst ratings and price targets
• Positive Sentiment: Bexobrutideg provides a major potential catalyst. Nurix has initiated the Phase 3 DAYBreak CLL-306 study to test the drug against JAYPIRCA in relapsed or refractory CLL/SLL. Positive earlier-stage data and the possibility of accelerated approval are supporting a “Strong Buy” thesis, along with the company’s partnerships and financial resources. Nurix bexobrutideg development outlook
• Neutral Sentiment: RBC Capital Markets views Nurix’s enterprise value as underappreciated, suggesting potential valuation support, though the article provides limited additional detail. RBC valuation commentary
• Negative Sentiment: Higher operating expenses weighed on the immediate reaction to earnings. Despite the headline beat, Nurix shares fell in post-earnings trading as investors assessed increased spending and the company’s continuing dependence on successful clinical and commercial execution. Nurix shares fall following Q3 earnings
• Negative Sentiment: Reliance on Roche creates execution and financial risks. Concerns include cost burdens, limited control over development and commercialization decisions, and uncertain returns from bexobrutideg. Nurix Roche partnership risks

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NRIX shares. Morgan Stanley raised their target price on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Friday, July 17th. Mizuho upped their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Stifel Nicolaus set a $41.00 price target on shares of Nurix Therapeutics in a research report on Tuesday. Finally, Truist Financial cut their price target on shares of Nurix Therapeutics from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday. Thirteen 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.64.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix's pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton's tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.