Insider Selling: Nurix Therapeutics, Inc. (NASDAQ:NRIX) Insider Sells 3,437 Shares of Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Gwenn Hansen sold 3,437 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $83,519.10. Following the completion of the transaction, the insider now directly owns 50,670 shares in the company, valued at approximately $1,231,281. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nurix Therapeutics Trading Down 0.4 %

Shares of NASDAQ NRIX opened at $24.47 on Friday. Nurix Therapeutics, Inc. has a 12 month low of $4.96 and a 12 month high of $27.60. The company has a 50 day simple moving average of $24.22 and a two-hundred day simple moving average of $20.26. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -8.41 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The firm had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. Analysts forecast that Nurix Therapeutics, Inc. will post -2.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NRIX shares. Stephens reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Monday, October 14th. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 target price for the company. Royal Bank of Canada lowered their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Hedge Funds Weigh In On Nurix Therapeutics

Several large investors have recently made changes to their positions in the company. Redmile Group LLC lifted its stake in shares of Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after purchasing an additional 1,226,497 shares during the period. Driehaus Capital Management LLC purchased a new stake in Nurix Therapeutics in the 2nd quarter worth $26,778,000. Candriam S.C.A. increased its holdings in Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after acquiring an additional 272,136 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in Nurix Therapeutics by 12.6% in the 2nd quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock worth $19,033,000 after acquiring an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Nurix Therapeutics by 60.2% in the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after acquiring an additional 225,374 shares in 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.