Key Points
- Insider sale: Nurix Therapeutics insider Gwenn Hansen sold 3,847 shares at an average price of $23.38, totaling approximately $89,943. The sale reduced her holdings by 3.07% and was made to cover tax withholding tied to vested equity awards.
- Financial performance: Nurix reported quarterly revenue of $9.04 million and an adjusted loss of $0.81 per share, missing analyst expectations of $15.29 million in revenue and a $0.73 loss per share.
- Analyst outlook: The stock has a “Moderate Buy” consensus rating from analysts, with an average price target of $34.00 versus its recent price near $23.58; several firms recently raised their targets, while Wells Fargo downgraded the shares to “Hold.”
Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) CFO Houte Hans Van sold 2,845 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $23.38, for a total value of $66,516.10. Following the completion of the transaction, the chief financial officer directly owned 44,927 shares of the company's stock, valued at approximately $1,050,393.26. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Houte Hans Van also recently made the following trade(s):
- On Tuesday, May 5th, Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00.
Nurix Therapeutics Stock Down 0.1%
Shares of Nurix Therapeutics stock opened at $23.58 on Friday. Nurix Therapeutics, Inc. has a 12-month low of $8.19 and a 12-month high of $25.08. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -6.83 and a beta of 1.80. The firm's 50-day moving average price is $20.43 and its two-hundred day moving average price is $17.81.
Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.84 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Wall Street Zen raised Nurix Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Jefferies Financial Group upped their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Stifel Nicolaus upped their price objective on Nurix Therapeutics from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. BTIG Research reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, July 10th. Finally, Morgan Stanley lifted their target price on Nurix Therapeutics from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.
Check Out Our Latest Report on Nurix Therapeutics
Institutional Trading of Nurix Therapeutics
A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its position in Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after buying an additional 1,190 shares during the period. California State Teachers Retirement System increased its position in Nurix Therapeutics by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company's stock valued at $1,290,000 after acquiring an additional 1,476 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at $31,000. Royal Bank of Canada raised its stake in shares of Nurix Therapeutics by 17.6% during the fourth quarter. Royal Bank of Canada now owns 10,842 shares of the company's stock valued at $206,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Nurix Therapeutics by 8.2% during the fourth quarter. Arizona State Retirement System now owns 21,990 shares of the company's stock valued at $417,000 after acquiring an additional 1,674 shares during the last quarter.
About Nurix Therapeutics
(
Get Free Report)
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.
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