Nurix Therapeutics (NASDAQ:NRIX) Share Price Crosses Below 200 Day Moving Average on Insider Selling

Key Points

• Nurix shares fell below their 200-day moving average: The stock traded as low as $14.78 and last stood at $15.95, versus a 200-day average of $20.25; the article reports a 38.2% decline.
• Sanofi is ending a partnered drug program: The company will discontinue its Phase 1 trial of SAR448272, a STAT6 degrader licensed from Nurix—an important pipeline setback identified as a key driver of the selloff.
• Analysts remain broadly positive: The stock carries a “Moderate Buy” consensus and an average price target of $34.43, while CFO Hans van Houte sold 4,769 shares under a pre-arranged Rule 10b5-1 plan.

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) passed below its 200-day moving average during trading on Wednesday following insider selling activity. The stock has a 200-day moving average of $20.25 and traded as low as $14.78. Nurix Therapeutics shares last traded at $15.95, with a volume of 19,553,840 shares traded.

Specifically, CFO Hans van Houte sold 4,769 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $15.63, for a total transaction of $74,539.47. Following the completion of the transaction, the chief financial officer directly owned 42,745 shares in the company, valued at $668,104.35. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $38,913.60. Following the transaction, the insider directly owned 123,452 shares of the company's stock, valued at approximately $3,308,513.60. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other news, insider Gwenn Hansen sold 3,957 shares of the business's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $26.28, for a total value of $103,989.96. Following the sale, the insider owned 123,452 shares in the company, valued at approximately $3,244,318.56. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Nurix Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, October 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, October 13th. UBS Group lifted their target price on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. HC Wainwright boosted their target price on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, October 16th. Finally, Wells Fargo & Company decreased their price target on Nurix Therapeutics from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.43.

Key Stories Impacting Nurix Therapeutics

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

• Neutral Sentiment: Wells Fargo lowered its price target for NRIX from $25 to $20 but maintained an “overweight” rating, signaling continued optimism despite reduced expectations. Wells Fargo price target
• Neutral Sentiment: CFO Hans van Houte sold 4,769 shares under a pre-arranged Rule 10b5-1 plan. The planned sale may draw attention, though it is less indicative of a new view on the company than an unplanned transaction. SEC filing
• Negative Sentiment: Sanofi is discontinuing its Phase 1 trial and terminating the program for SAR448272, an oral STAT6 degrader licensed from Nurix. Losing a partnered clinical program weakens the pipeline’s potential value and appears to be the main catalyst behind the selloff. BioSpace reported the decision was not related to the drug’s target, which may help distinguish the setback from a broader issue with STAT6. Nurix announcement BioSpace report

Nurix Therapeutics Stock Down 38.2%

The business's fifty day moving average is $24.73 and its two-hundred day moving average is $20.25. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 6.90 and a beta of 1.80.

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

Hedge Funds Weigh In On Nurix Therapeutics

Several large investors have recently made changes to their positions in NRIX. GAMMA Investing LLC boosted its holdings in Nurix Therapeutics by 95.4% in the third quarter. GAMMA Investing LLC now owns 1,270 shares of the company's stock valued at $30,000 after acquiring an additional 620 shares during the last quarter. Nykredit A S bought a new stake in Nurix Therapeutics during the 2nd quarter worth about $32,000. Integrated Wealth Concepts LLC acquired a new position in Nurix Therapeutics during the 2nd quarter valued at about $33,000. KBC Group NV acquired a new position in Nurix Therapeutics during the 1st quarter valued at about $34,000. Finally, Avalon Trust Co acquired a new position in Nurix Therapeutics during the 2nd quarter valued at about $64,000.

About Nurix Therapeutics

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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