Nuvalent, Inc. (NASDAQ:NUVL) Director Sells $205,500.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $102.75, for a total value of $205,500.00. Following the sale, the director now directly owns 226,522 shares of the company’s stock, valued at approximately $23,275,135.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matthew Shair also recently made the following trade(s):

• On Monday, August 26th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $84.46, for a total transaction of $168,920.00.
• On Monday, July 29th, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $79.59, for a total transaction of $159,180.00.

Nuvalent Stock Down 1.9 %

Shares of Nuvalent stock opened at $99.10 on Friday. Nuvalent, Inc. has a 52-week low of $41.16 and a 52-week high of $113.51. The company has a market capitalization of $6.40 billion, a P/E ratio of -41.12 and a beta of 1.28. The company has a 50 day moving average of $84.32 and a 200 day moving average of $77.11.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same period last year, the firm earned ($0.51) EPS. As a group, research analysts anticipate that Nuvalent, Inc. will post -3.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NUVL shares. Stifel Nicolaus raised their price target on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on Nuvalent from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. BMO Capital Markets increased their price target on shares of Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Guggenheim lifted their price objective on shares of Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Lifesci Capital upgraded shares of Nuvalent to a “strong-buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nuvalent has a consensus rating of “Moderate Buy” and an average target price of $111.00.

Institutional Trading of Nuvalent

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Nuvalent during the 2nd quarter worth about $44,000. Amalgamated Bank increased its stake in Nuvalent by 21.8% in the second quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after purchasing an additional 198 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Nuvalent during the first quarter worth approximately $121,000. Allspring Global Investments Holdings LLC lifted its position in shares of Nuvalent by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock worth $168,000 after buying an additional 189 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Nuvalent in the 1st quarter valued at $202,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.