Nurix Therapeutics, Inc. (NASDAQ:NRIX) Insider Gwenn Hansen Sells 4,308 Shares

Key Points

• Insider Trading: Gwenn Hansen, an insider at Nurix Therapeutics, sold 4,308 shares at an average price of $12.01, totaling approximately $51,739, which represents a 5.87% decrease in their position.
• Quarterly Earnings: Nurix Therapeutics reported a Q2 loss of ($0.52) per share, surpassing analyst expectations, with revenue of $44.06 million, significantly higher than estimates of $16.26 million.
• Stock Ratings: Analysts have a consensus rating of "Moderate Buy" for Nurix Therapeutics, with 14 analysts recommending a buy while setting a target price of around $29.31.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) insider Gwenn Hansen sold 4,308 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total transaction of $51,739.08. Following the transaction, the insider owned 69,023 shares in the company, valued at approximately $828,966.23. The trade was a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Nurix Therapeutics Trading Down 2.0%

Nurix Therapeutics stock traded down $0.22 during mid-day trading on Friday, reaching $11.04. The company's stock had a trading volume of 533,693 shares, compared to its average volume of 999,154. The firm has a market cap of $844.01 million, a price-to-earnings ratio of -4.23 and a beta of 2.14. The business has a 50 day moving average price of $11.82 and a 200-day moving average price of $13.08. Nurix Therapeutics, Inc. has a twelve month low of $8.18 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The company had revenue of $44,056 billion during the quarter, compared to the consensus estimate of $16.26 million. On average, equities analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Nurix Therapeutics by 1,711.9% during the fourth quarter. FMR LLC now owns 10,634,231 shares of the company's stock valued at $200,349,000 after purchasing an additional 10,047,329 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of Nurix Therapeutics during the fourth quarter valued at about $25,120,000. Soleus Capital Management L.P. raised its position in Nurix Therapeutics by 97.3% in the fourth quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after acquiring an additional 1,036,999 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Nurix Therapeutics in the fourth quarter worth about $16,447,000. Finally, Vestal Point Capital LP raised its position in Nurix Therapeutics by 132.1% in the first quarter. Vestal Point Capital LP now owns 1,125,552 shares of the company's stock worth $13,372,000 after acquiring an additional 640,552 shares in the last quarter.

Wall Street Analyst Weigh In

NRIX has been the topic of several research reports. Stephens restated an "overweight" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Stifel Nicolaus cut their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, HC Wainwright cut their price target on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.87.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.