Christine Ring, Chief Legal Officer of Nurix Therapeutics, Inc. (NASDAQ:NRIX), made a significant transaction involving the company’s common stock on January 2, 2025. According to a recent SEC Form 4 filing, the ring sold 5,760 shares of Nurix Therapeutics at an average price of $19.4956 per share, resulting in a total sales of approximately $112,294. The transaction comes as the stock, currently valued at $1.39 billion according to the market estimate, has shown impressive strength with a 90.9% return over the past year. InvestingPro’s analysis shows that the stock is trading above its Fair Value.
In addition to the sale, Ring also exercised stock options to acquire 5,760 shares at a price of $1.86 per share, which was part of the Rule 10b5-1 trading plan he previously accepted. Following this transaction, Ring directly owns 28,084 shares of Nurix Therapeutics.
The sale was made within a price range of $18.91 to $19.73 per share. Ring is committed to providing detailed information about the specific number of shares sold at each price upon request.
In other recent news, Nurix Therapeutics has seen significant progress in its clinical development. The US Food and Drug Administration has granted Fast Track designation to the company’s drug candidate NX-5948 for the treatment of adult patients with relapsed or refractory Waldenstrom’s macroglobulinemia. The European Medicines Agency has also granted PRIME designation to NX-5948 for the treatment of elderly patients with chronic lymphocytic leukemia or small lymphocytic lymphoma.
On the financial side, Nurix plans to sell up to $300 million of its common stock through an equity distribution agreement with investment bank Piper Sandler & Co. According to analyst estimates, HC Wainwright raised its 12-month price target for Nurix from $30. to $35 and maintained a buy rating. BMO Capital Markets and UBS resumed coverage on Nurix with a buy rating, expressing confidence in NX-5948’s potential.
Finally, Anil Kapur, a veteran in the medical field, has been appointed to Nurix’s board of directors. This addition is expected to bring significant insight as the company prepares for key clinical trials in 2025.
This article was created with the support of AI and reviewed by an editor. For more information see our T&C.
