Nurix Therapeutics (NASDAQ:NRIX) Insider Gwenn Hansen Sells 4,111 Shares

Key Points

• Insider sale: Nurix Therapeutics insider Gwenn Hansen sold 4,111 shares for approximately $100,144 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 3.39% to 117,227 shares.
• Stock performance and financials: NRIX rose 6.3% and opened at $24.69, near its 12-month high of $25.08. The company reported a quarterly loss of $0.81 per share and revenue of $9.04 million, both worse than analyst expectations.
• Analyst outlook: Wall Street maintains a consensus “Moderate Buy” rating, with 13 Buy, one Hold, and one Sell rating and a consensus price target of $34, above the reported trading price.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) insider Gwenn Hansen sold 4,111 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $100,143.96. Following the completion of the transaction, the insider owned 117,227 shares of the company's stock, valued at $2,855,649.72. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gwenn Hansen also recently made the following trade(s):

• On Thursday, July 30th, Gwenn Hansen sold 3,847 shares of Nurix Therapeutics stock. The shares were sold at an average price of $23.38, for a total transaction of $89,942.86.
• 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 transaction of $107,880.00.

Nurix Therapeutics Trading Up 6.3%

NASDAQ NRIX opened at $24.69 on Wednesday. The firm's fifty day simple moving average is $20.80 and its two-hundred day simple moving average is $17.92. The firm has a market capitalization of $2.56 billion, a P/E ratio of -7.16 and a beta of 1.79. Nurix Therapeutics, Inc. has a 12-month low of $8.19 and a 12-month high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The business had revenue of $9.04 million for the quarter, compared to analysts' expectations of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. As a group, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Nurix Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Nurix Therapeutics by 32.5% during the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company's stock worth $112,862,000 after purchasing an additional 1,460,736 shares during the period. General Atlantic L.P. acquired a new position in Nurix Therapeutics in the 4th quarter worth approximately $92,899,000. Morgan Stanley raised its position in Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company's stock worth $92,594,000 after buying an additional 2,620,323 shares during the last quarter. Vestal Point Capital LP raised its position in Nurix Therapeutics by 35.0% during the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company's stock worth $88,969,000 after buying an additional 1,215,000 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in Nurix Therapeutics by 20.0% during the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company's stock valued at $88,373,000 after acquiring an additional 776,431 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NRIX. Truist Financial raised 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. Oppenheimer started coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They set an "outperform" rating and a $28.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Finally, BTIG Research reissued a "buy" rating and set a $32.00 target price on shares of Nurix Therapeutics in a research report on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nurix Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

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.

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.

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