Christine Ring Sells 5,760 Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) Stock

Nurix Therapeutics, Inc. (NASDAQ:NRIX) insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now owns 19,838 shares in the company, valued at $412,828.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Christine Ring also recently made the following trade(s):

• On Wednesday, June 12th, Christine Ring sold 1,900 shares of Nurix Therapeutics stock. The shares were sold at an average price of $17.01, for a total value of $32,319.00.
• On Wednesday, June 5th, Christine Ring sold 400 shares of Nurix Therapeutics stock. The shares were sold at an average price of $17.00, for a total value of $6,800.00.
• On Monday, June 3rd, Christine Ring sold 1,596 shares of Nurix Therapeutics stock. The shares were sold at an average price of $17.01, for a total value of $27,147.96.

Nurix Therapeutics Trading Down 9.5 %

Shares of NRIX opened at $18.93 on Wednesday. The firm has a market cap of $930.41 million, a price-to-earnings ratio of -7.12 and a beta of 2.22. The stock has a 50 day moving average of $16.04 and a 200-day moving average of $13.05. Nurix Therapeutics, Inc. has a 52 week low of $4.22 and a 52 week high of $22.44.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.04. The company had revenue of $16.59 million during the quarter, compared to analyst estimates of $14.58 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NRIX. Redmile Group LLC grew its position 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 worth $65,900,000 after acquiring an additional 1,226,497 shares in the last quarter. ARK Investment Management LLC boosted its position in Nurix Therapeutics by 23.2% during the 4th quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock valued at $32,972,000 after purchasing an additional 601,952 shares during the period. Affinity Asset Advisors LLC boosted its position in Nurix Therapeutics by 176.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock valued at $7,122,000 after purchasing an additional 440,112 shares during the period. Ikarian Capital LLC acquired a new position in Nurix Therapeutics during the 1st quarter valued at approximately $4,410,000. Finally, Opaleye Management Inc. acquired a new position in Nurix Therapeutics during the 1st quarter valued at approximately $3,928,000.

Wall Street Analyst Weigh In

NRIX has been the topic of several analyst reports. HC Wainwright raised their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, June 17th. JPMorgan Chase & Co. lifted their price objective on Nurix Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $27.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.10.

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.