Nurix Therapeutics (NASDAQ:NRIX) Director Julia Gregory Sells 22,583 Shares of Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) Director Julia Gregory sold 22,583 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $23.40, for a total transaction of $528,442.20. Following the completion of the sale, the director directly owned 10,750 shares of the company’s stock, valued at $251,550. The trade was a 67.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nurix Therapeutics Stock Up 7.0%

Shares of NRIX stock traded up $1.54 during mid-day trading on Wednesday, reaching $23.67. The company’s stock had a trading volume of 2,979,651 shares, compared to its average volume of 1,499,048. The firm has a market capitalization of $2.46 billion, a PE ratio of -6.86 and a beta of 1.82. The company’s 50 day simple moving average is $25.17 and its 200-day simple moving average is $21.00. Nurix Therapeutics, Inc. has a 12-month low of $9.18 and a 12-month high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Monday, October 12th. 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 62.20%. The firm had revenue of $673.06 million during the quarter, compared to analysts’ expectations of $24.35 million. As a group, research analysts anticipate that Nurix Therapeutics, Inc. will post -2.69 EPS for the current fiscal year.

Key Stories Impacting Nurix Therapeutics

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

• Positive Sentiment: Q3 results significantly exceeded expectations. Nurix reported earnings of $4.73 per share versus the consensus estimate for a $0.60 loss, while revenue reached $673.06 million compared with expectations of $24.35 million. The results also represented a substantial improvement from the prior-year loss. Nurix Q3 earnings and revenue results
• Positive Sentiment: Analysts remain broadly bullish. Robert W. Baird raised its price target to $36 and maintained an outperform rating. Needham reaffirmed a buy rating with a $34 target, while Truist kept a buy rating and set a $33 target despite trimming its target from $34. These targets imply substantial upside from recent trading levels. Nurix analyst ratings and price targets
• Positive Sentiment: Bexobrutideg provides a major potential catalyst. Nurix has initiated the Phase 3 DAYBreak CLL-306 study to test the drug against JAYPIRCA in relapsed or refractory CLL/SLL. Positive earlier-stage data and the possibility of accelerated approval are supporting a “Strong Buy” thesis, along with the company’s partnerships and financial resources. Nurix bexobrutideg development outlook
• Neutral Sentiment: RBC Capital Markets views Nurix’s enterprise value as underappreciated, suggesting potential valuation support, though the article provides limited additional detail. RBC valuation commentary
• Negative Sentiment: Higher operating expenses weighed on the immediate reaction to earnings. Despite the headline beat, Nurix shares fell in post-earnings trading as investors assessed increased spending and the company’s continuing dependence on successful clinical and commercial execution. Nurix shares fall following Q3 earnings
• Negative Sentiment: Reliance on Roche creates execution and financial risks. Concerns include cost burdens, limited control over development and commercialization decisions, and uncertain returns from bexobrutideg. Nurix Roche partnership risks

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently made changes to their positions in NRIX. GAMMA Investing LLC boosted its stake 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 period. Nykredit A S acquired a new position in shares of Nurix Therapeutics during the second quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new position in shares of Nurix Therapeutics during the second quarter valued at $33,000. KBC Group NV bought a new position in shares of Nurix Therapeutics during the first quarter worth about $34,000. Finally, Avalon Trust Co bought a new position in shares of Nurix Therapeutics during the second quarter worth about $64,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NRIX shares. HC Wainwright boosted their price objective on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Royal Bank Of Canada reduced their price target on Nurix Therapeutics from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday. Robert W. Baird boosted their price target on Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a report on Tuesday. Finally, BTIG Research reiterated a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.64.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.