Insider Selling: Nurix Therapeutics (NASDAQ:NRIX) Insider Sells 3,847 Shares of Stock

Key Points

• Nurix Therapeutics insider Gwenn Hansen sold 3,847 shares at an average price of $23.38, generating $89,942.86. The sale covered tax withholding tied to vested equity awards, leaving Hansen with 121,338 shares.
• NRIX shares traded near $23.58, close to their 52-week high of $25.08, while the stock’s market capitalization stood at approximately $2.45 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $34 price target, despite Nurix recently missing quarterly earnings and revenue estimates.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) insider Gwenn Hansen sold 3,847 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $23.38, for a total value of $89,942.86. Following the transaction, the insider directly owned 121,338 shares in the company, valued at approximately $2,836,882.44. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Thursday, June 25th, Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock. The shares were sold at an average price of $20.00, for a total value of $107,880.00.

Nurix Therapeutics Price Performance

Shares of NRIX traded down $0.02 during mid-day trading on Thursday, reaching $23.58. 1,248,824 shares of the company's stock were exchanged, compared to its average volume of 1,517,187. The business's fifty day simple moving average is $20.31 and its 200-day simple moving average is $17.78. The stock has a market capitalization of $2.45 billion, a PE ratio of -6.83 and a beta of 1.80. Nurix Therapeutics, Inc. has a 52-week low of $8.19 and a 52-week high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Equities research analysts predict that Nurix Therapeutics, Inc. will post -2.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NRIX. Royal Bank Of Canada increased their price objective on Nurix Therapeutics from $30.00 to $33.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. UBS Group upped their price target on Nurix Therapeutics from $23.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. HC Wainwright increased their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Robert W. Baird boosted their price objective on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, June 18th. Finally, Stifel Nicolaus upped their price objective on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nurix Therapeutics by 11.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company's stock worth $593,000 after purchasing an additional 5,286 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company's stock valued at $10,388,000 after purchasing an additional 450,262 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Nurix Therapeutics by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company's stock valued at $6,029,000 after purchasing an additional 44,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Nurix Therapeutics by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company's stock valued at $1,895,000 after purchasing an additional 12,817 shares during the period. Finally, Creative Planning purchased a new stake in Nurix Therapeutics during the second quarter worth about $187,000.

About Nurix Therapeutics

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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