By otakuyassine3@gmail.com 
Shares of Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $113.10.
Several equities analysts have recently commented on NUVL shares. HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Nuvalent in a research note on Monday, March 3rd. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Nuvalent in a research note on Monday, January 13th. Finally, BMO Capital Markets lifted their price objective on shares of Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.
Check Out Our Latest Analysis on NUVL
Insider Activity at Nuvalent
In other news, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.78, for a total value of $167,560.00. Following the sale, the director now owns 220,522 shares in the company, valued at $18,475,333.16. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Richard Porter sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $75.99, for a total transaction of $2,051,730.00. Following the completion of the transaction, the chief executive officer now directly owns 249,062 shares in the company, valued at $18,926,221.38. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,800 shares of company stock worth $8,895,004. 12.52% of the stock is owned by company insiders.
Institutional Trading of Nuvalent
Large investors have recently bought and sold shares of the business. Creative Planning acquired a new position in shares of Nuvalent during the 3rd quarter worth approximately $232,000. State of New Jersey Common Pension Fund D purchased a new stake in Nuvalent in the 3rd quarter valued at $2,412,000. Los Angeles Capital Management LLC purchased a new stake in Nuvalent in the 3rd quarter valued at $490,000. First Turn Management LLC increased its stake in shares of Nuvalent by 42.3% in the 3rd quarter. First Turn Management LLC now owns 359,114 shares of the company’s stock worth $36,737,000 after acquiring an additional 106,838 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Nuvalent during the 3rd quarter valued at about $796,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.
Nuvalent Price Performance
Shares of NASDAQ:NUVL opened at $71.07 on Friday. The firm has a market capitalization of $5.05 billion, a PE ratio of -20.48 and a beta of 1.42. The business has a 50 day simple moving average of $79.32 and a two-hundred day simple moving average of $88.39. Nuvalent has a 1 year low of $61.80 and a 1 year high of $113.51.
Nuvalent (NASDAQ:NUVL – Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Equities research analysts expect that Nuvalent will post -3.86 EPS for the current fiscal year.
Nuvalent Company Profile
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.
Further Reading
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