Darlene Noci Sells 5,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Darlene Noci sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.74, for a total value of $508,700.00. Following the completion of the sale, the insider now directly owns 33,300 shares in the company, valued at $3,387,942. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Darlene Noci also recently made the following trade(s):

• On Tuesday, September 3rd, Darlene Noci sold 5,000 shares of Nuvalent stock. The shares were sold at an average price of $84.43, for a total transaction of $422,150.00.
• On Thursday, August 1st, Darlene Noci sold 5,000 shares of Nuvalent stock. The shares were sold at an average price of $77.22, for a total transaction of $386,100.00.

Nuvalent Stock Performance

NASDAQ NUVL opened at $103.50 on Friday. The business’s fifty day moving average is $85.62 and its 200 day moving average is $77.42. Nuvalent, Inc. has a fifty-two week low of $41.45 and a fifty-two week high of $113.51. The company has a market capitalization of $6.68 billion, a PE ratio of -42.95 and a beta of 1.29.

Nuvalent (NASDAQ:NUVL) last released its earnings results 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 in the prior year, the firm earned ($0.51) EPS. On average, sell-side analysts forecast that Nuvalent, Inc. will post -3.55 EPS for the current year.

Analyst Upgrades and Downgrades

NUVL has been the topic of several analyst reports. Barclays assumed coverage on Nuvalent in a research report on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price objective on the stock. Wedbush increased their price objective on Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. BMO Capital Markets boosted their target price on Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Nuvalent from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.00.

Institutional Inflows and Outflows

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

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.