Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) Insider Sells 1,452 Shares of Stock

Key Points

• Nurix Therapeutics insider Gwenn Hansen sold 1,452 shares at an average price of $26.80, generating $38,913.60. The Rule 10b5-1 transaction was intended to cover tax withholding related to vested equity awards, reducing Hansen’s holdings by 1.16% to 123,452 shares.
• NRIX shares traded at $25.70, with the stock up substantially from its 52-week low of $11.67 and near its 52-week high of $28.23. The company reported quarterly EPS of $4.73, far exceeding the $0.60 loss analysts expected, alongside $673.06 million in revenue.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, one Hold, and one Sell, producing a Moderate Buy consensus and an average price target of $34.79. Several hedge funds also recently initiated or increased positions in the company.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) insider Gwenn Hansen sold 1,452 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $26.80, for a total transaction of $38,913.60. Following the completion of the transaction, the insider directly owned 123,452 shares of the company's stock, valued at $3,308,513.60. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $25.00, for a total transaction of $36,300.00.
• On Tuesday, September 1st, Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock. The stock was 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 stock was sold at an average price of $25.00, for a total transaction 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 Price Performance

NRIX traded down $1.10 during mid-day trading on Monday, hitting $25.70. The stock had a trading volume of 2,348,532 shares, compared to its average volume of 2,495,734. The stock's fifty day simple moving average is $24.98 and its 200-day simple moving average is $20.20. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.13 and a beta of 1.82. Nurix Therapeutics, Inc. has a 1-year low of $11.67 and a 1-year high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly 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 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. As a group, research analysts expect that Nurix Therapeutics, Inc. will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds have recently modified their holdings of NRIX. BlackRock Inc. acquired a new position in shares of Nurix Therapeutics during the 2nd quarter valued at about $212,769,000. Perceptive Advisors LLC boosted its holdings in 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 purchasing an additional 155,000 shares in the last quarter. Trails Edge Capital Partners LP acquired a new stake in shares of Nurix Therapeutics in the second quarter valued at about $38,166,318. Bank of America Corp DE acquired a new stake in Nurix Therapeutics during the 2nd quarter valued at $20,429,000. Finally, Handelsbanken Fonder AB increased its position in Nurix Therapeutics by 15.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 633,000 shares of the company's stock worth $15,357,000 after purchasing an additional 86,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NRIX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nurix Therapeutics in a research report on Thursday, October 15th. Mizuho raised their price objective 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 objective on Nurix Therapeutics in a research note on Tuesday, October 13th. HC Wainwright upped their price objective 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 lowered their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 13th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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.