Matthew Shair Sells 2,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $82.79, for a total transaction of $165,580.00. Following the completion of the transaction, the director now directly owns 218,522 shares of the company’s stock, valued at $18,091,436.38. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $83.78, for a total value of $167,560.00.
• 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.

Nuvalent Stock Up 2.6 %

Nuvalent stock opened at $87.75 on Friday. Nuvalent, Inc. has a 52 week low of $61.79 and a 52 week high of $113.51. The stock has a 50-day moving average price of $84.89 and a 200 day moving average price of $87.68. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -25.29 and a beta of 1.38.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data 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 last year, the business posted ($0.59) EPS. Research analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NUVL. UBS Group initiated coverage on shares of Nuvalent in a report on Thursday, October 24th. They issued a “neutral” rating and a $100.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Nuvalent from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Nuvalent in a research note on Friday, January 17th. BMO Capital Markets upped their price target on Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of Nuvalent in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nuvalent has a consensus rating of “Moderate Buy” and an average target price of $112.36.

Institutional Investors Weigh In On Nuvalent

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of Nuvalent by 3.9% in the 4th quarter. Rhumbline Advisers now owns 50,454 shares of the company’s stock valued at $3,950,000 after buying an additional 1,896 shares during the period. abrdn plc raised its position in Nuvalent by 19.5% during the fourth quarter. abrdn plc now owns 56,701 shares of the company’s stock valued at $4,439,000 after acquiring an additional 9,241 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Nuvalent by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,913 shares of the company’s stock valued at $1,089,000 after acquiring an additional 2,496 shares during the period. KBC Group NV boosted its position in Nuvalent by 61.1% in the 4th quarter. KBC Group NV now owns 1,587 shares of the company’s stock worth $124,000 after purchasing an additional 602 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Nuvalent by 46.1% during the 4th quarter. SG Americas Securities LLC now owns 10,793 shares of the company’s stock worth $845,000 after purchasing an additional 3,408 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.