Nurix Therapeutics (NASDAQ:NRIX) CFO Houte Hans Van Sells 4,769 Shares of Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) CFO Hans van Houte sold 4,769 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $15.63, for a total value of $74,539.47. Following the completion of the transaction, the chief financial officer owned 42,745 shares in the company, valued at $668,104.35. The trade was a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Houte Hans Van also recently made the following trade(s):

• On Friday, October 30th, Hans van Houte sold 2,834 shares of Nurix Therapeutics stock. The stock was sold at an average price of $26.28, for a total transaction of $74,477.52.

Nurix Therapeutics Stock Down 38.2%

Shares of Nurix Therapeutics stock traded down $9.87 during trading hours on Wednesday, reaching $15.95. 19,553,840 shares of the company’s stock were exchanged, compared to its average volume of 1,678,651. The business has a fifty day moving average of $24.95 and a two-hundred day moving average of $20.27. The company has a market capitalization of $1.74 billion, a P/E ratio of 6.90 and a beta of 1.80. Nurix Therapeutics, Inc. has a 1 year low of $11.67 and a 1 year high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Tuesday, October 13th. The company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $5.33. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. The firm had revenue of $673.06 million for the quarter, compared to analyst estimates of $24.35 million. As a group, research analysts predict that Nurix Therapeutics, Inc. will post 1.14 EPS for the current year.

Institutional Trading of Nurix Therapeutics

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on NRIX shares. Truist Financial cut their price target on shares of Nurix Therapeutics from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. UBS Group raised their target price on Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. BTIG Research reissued a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research report on Friday, July 10th. Wells Fargo & Company decreased their price objective on Nurix Therapeutics from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wall Street Zen upgraded Nurix Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.43.

Nurix Therapeutics News Roundup

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

• Neutral Sentiment: Wells Fargo lowered its price target from $25 to $20 but maintained an “overweight” rating, indicating the analyst still sees potential upside from the share price cited in the report. Wells Fargo price target update
• Neutral Sentiment: Coverage of the decision says Sanofi’s move was not related to a problem with STAT6 as a drug target. That may temper concerns about the broader scientific approach, but the specific program has still been discontinued. BioSpace report on the STAT6 program
• Negative Sentiment: Sanofi notified Nurix that it would stop the Phase 1 trial and terminate SAR448272, an oral STAT6 degrader licensed from Nurix. Investors may be reassessing the program’s contribution to Nurix’s pipeline and potential future economics; the announcement triggered a sharp selloff. Nurix announcement on Sanofi’s decision

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.