Nurix Therapeutics (NASDAQ:NRIX) CFO Houte Hans Van Sells 4,769 Shares of Stock

Key Points

• Nurix CFO Hans van Houte sold 4,769 shares for about $74,539 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 10.04% to 42,745 shares.
• Sanofi is ending its Phase 1 trial and development of Nurix-licensed STAT6 degrader SAR448272; the announcement triggered a sharp selloff, with shares down $9.87 to $15.95 on Wednesday.
• Analyst views remain mixed but lean positive: Wells Fargo cut its price target to $20 while keeping an Overweight rating, and the overall consensus is Moderate Buy with a $34.43 target.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) CFO Hans van Houte sold 4,769 shares of the firm's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $15.63, for a total value of $74,539.47. Following the sale, the chief financial officer directly owned 42,745 shares in the company, valued at approximately $668,104.35. This trade represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 30th, Hans van Houte sold 2,834 shares of Nurix Therapeutics stock. The shares were sold at an average price of $26.28, for a total value of $74,477.52.

Nurix Therapeutics Price Performance

NASDAQ:NRIX traded down $9.87 during trading hours on Wednesday, reaching $15.95. The company had a trading volume of 19,553,840 shares, compared to its average volume of 1,678,651. Nurix Therapeutics, Inc. has a 1-year low of $11.67 and a 1-year high of $28.23. The firm has a market cap of $1.74 billion, a PE ratio of 6.90 and a beta of 1.80. The business's 50 day moving average price is $24.95 and its 200-day moving average price is $20.27.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $4.73 EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $5.33. The business had revenue of $673.06 million for the quarter, compared to analysts' expectations of $24.35 million. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. On average, analysts expect that Nurix Therapeutics, Inc. will post 1.14 earnings per share for the current fiscal year.

Key Headlines Impacting Nurix Therapeutics

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

• Neutral Sentiment: Wells Fargo lowered its price target from $25 to $20 but maintained an “overweight” rating, indicating the analyst still sees potential upside from the share price cited in the report. Wells Fargo price target update
• Neutral Sentiment: Coverage of the decision says Sanofi’s move was not related to a problem with STAT6 as a drug target. That may temper concerns about the broader scientific approach, but the specific program has still been discontinued. BioSpace report on the STAT6 program
• Negative Sentiment: Sanofi notified Nurix that it would stop the Phase 1 trial and terminate SAR448272, an oral STAT6 degrader licensed from Nurix. Investors may be reassessing the program’s contribution to Nurix’s pipeline and potential future economics; the announcement triggered a sharp selloff. Nurix announcement on Sanofi’s decision

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Nurix Therapeutics during the second quarter valued at $212,769,000. Trails Edge Capital Partners LP acquired a new position in shares of Nurix Therapeutics during the 2nd quarter worth about $38,166,318. Bank of America Corp DE acquired a new position in shares of Nurix Therapeutics during the 2nd quarter worth about $20,429,000. Elmind Capital LP purchased a new position in Nurix Therapeutics in the 2nd quarter valued at about $11,159,600. Finally, Dimensional Fund Advisors LP lifted its stake in Nurix Therapeutics by 81.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 780,696 shares of the company's stock valued at $12,094,000 after buying an additional 349,710 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $34.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, October 13th. BTIG Research reissued a "buy" rating and set a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Wells Fargo & Company dropped their target price on Nurix Therapeutics from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday. Morgan Stanley lifted their price target on Nurix Therapeutics from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Thursday, October 15th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.43.

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.

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