Nurix Therapeutics’ leadership sent mixed signals to investors when three top executives—the Chief Scientific Officer, CFO, and General Counsel—simultaneously sold portions of their stock holdings on July 30, despite receiving new shares through restricted stock units that same day. All three cited tax obligations as the reason for their sales, which occurred at approximately $12.01 per share—a price representing less than half of the stock’s 52-week high of $29.56. The timing is particularly notable as the biotech company’s shares have plummeted 43% over the past year, currently trading at just $11.88.
Analysts Divided on Future Prospects
Wall Street remains remarkably split on Nurix’s outlook. Goldman Sachs maintains an extremely bullish position with a $182 price target, banking heavily on the potential of the company’s promising drug Crenessity. Meanwhile, Morgan Stanley recently reduced its target from $17 to $16, citing increased expenses for planned approval studies. UBS similarly lowered its target from $30 to $26, while Stifel remains optimistic at $35, projecting peak sales exceeding $4.5 billion for Nurix’s lead candidate. This division reflects the fundamental challenge facing investors: weighing Nurix’s promising development pipeline against its significant cash burn rate.
