By otakuyassine3@gmail.com 
Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.78, for a total transaction of $167,560.00. Following the sale, the director now owns 220,522 shares of the company’s stock, valued at approximately $18,475,333.16. The trade was a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Matthew Shair also recently made the following trade(s):
- On Monday, November 25th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $96.22, for a total value of $192,440.00.
- On Monday, October 28th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $91.73, for a total value of $183,460.00.
Nuvalent Price Performance
NUVL traded down $0.59 during mid-day trading on Thursday, hitting $82.06. The stock had a trading volume of 247,800 shares, compared to its average volume of 437,034. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of -23.65 and a beta of 1.31. The stock’s fifty day simple moving average is $91.98 and its 200-day simple moving average is $87.29. Nuvalent, Inc. has a 1-year low of $61.79 and a 1-year high of $113.51.
Nuvalent (NASDAQ:NUVL – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.35). During the same quarter in the previous year, the company posted ($0.59) earnings per share. As a group, research analysts expect that Nuvalent, Inc. will post -3.84 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Nuvalent
Several institutional investors and hedge funds have recently made changes to their positions in NUVL. Bank of New York Mellon Corp boosted its holdings in Nuvalent by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,883 shares of the company’s stock valued at $10,460,000 after purchasing an additional 25,966 shares during the period. Commonwealth Equity Services LLC grew its position in Nuvalent by 62.0% during the second quarter. Commonwealth Equity Services LLC now owns 4,404 shares of the company’s stock worth $334,000 after buying an additional 1,686 shares in the last quarter. Rhumbline Advisers increased its stake in Nuvalent by 18.9% during the 2nd quarter. Rhumbline Advisers now owns 46,611 shares of the company’s stock worth $3,536,000 after acquiring an additional 7,420 shares during the period. Arizona State Retirement System raised its holdings in Nuvalent by 15.9% in the 2nd quarter. Arizona State Retirement System now owns 8,215 shares of the company’s stock valued at $623,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Nuvalent during the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 97.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on NUVL shares. The Goldman Sachs Group upgraded shares of Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. Stifel Nicolaus increased their price objective on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Guggenheim boosted their price objective on Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Barclays began coverage on Nuvalent in a research note on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Nuvalent in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.60.
View Our Latest Stock Analysis on Nuvalent
About Nuvalent
Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.
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