Nurix Therapeutics, Inc. (NASDAQ:NRIX) Insider Sells $51,739.08 in Stock

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 company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total transaction of $51,739.08. Following the transaction, the insider directly owned 69,023 shares of the company's stock, valued at $828,966.23. This represents a 5.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nurix Therapeutics Trading Down 2.0%

Shares of NRIX traded down $0.22 during mid-day trading on Friday, hitting $11.04. 533,693 shares of the company traded hands, compared to its average volume of 999,154. Nurix Therapeutics, Inc. has a one year low of $8.18 and a one year high of $29.56. The business has a 50-day moving average of $11.82 and a 200 day moving average of $13.03. The stock has a market capitalization of $844.01 million, a price-to-earnings ratio of -4.23 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) 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 business had revenue of $44,056 billion for the quarter, compared to analysts' expectations of $16.26 million. As a group, analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Oppenheimer reissued an "outperform" rating and issued a $30.00 target price (down previously from $32.00) on shares of Nurix Therapeutics in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. HC Wainwright decreased their price objective on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, July 14th. Morgan Stanley set a $16.00 price objective on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, UBS Group decreased their price objective on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.87.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Nurix Therapeutics by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company's stock valued at $585,000 after buying an additional 642 shares during the period. Corebridge Financial Inc. raised its position in shares of Nurix Therapeutics by 2.3% during the 4th quarter. Corebridge Financial Inc. now owns 34,907 shares of the company's stock valued at $658,000 after acquiring an additional 770 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Nurix Therapeutics by 0.7% during the 4th quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company's stock valued at $2,159,000 after acquiring an additional 785 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock valued at $138,000 after acquiring an additional 877 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Nurix Therapeutics by 8.7% during the 1st quarter. Arizona State Retirement System now owns 17,253 shares of the company's stock valued at $205,000 after acquiring an additional 1,385 shares during the last quarter.

About Nurix Therapeutics

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.