Nuvalent, Inc. (NASDAQ:NUVL) Receives $138.33 Consensus Price Target from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $138.3333.

A number of brokerages recently commented on NUVL. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a report on Wednesday, October 8th. Truist Financial set a $140.00 target price on Nuvalent in a research note on Monday, November 24th. Robert W. Baird boosted their price objective on shares of Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Cantor Fitzgerald began coverage on shares of Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price objective on the stock. Finally, Leerink Partners boosted their target price on Nuvalent from $140.00 to $149.00 and gave the stock an “outperform” rating in a report on Monday, November 17th.

Insiders Place Their Bets

In related news, Director James E. Flynn sold 742,574 shares of Nuvalent stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $95.44, for a total value of $70,871,262.56. Following the completion of the sale, the director directly owned 8,299,225 shares in the company, valued at approximately $792,078,034. This trade represents a 8.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Shair sold 5,850 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $109.37, for a total value of $639,814.50. Following the completion of the transaction, the director directly owned 1,377,194 shares of the company’s stock, valued at approximately $150,623,707.78. This trade represents a 0.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 989,845 shares of company stock valued at $94,905,108. 10.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvalent

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after buying an additional 108 shares during the last quarter. US Bancorp DE grew its position in shares of Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after acquiring an additional 188 shares during the period. Kennedy Capital Management LLC grew its position in shares of Nuvalent by 3.7% during the 2nd quarter. Kennedy Capital Management LLC now owns 5,504 shares of the company’s stock valued at $420,000 after acquiring an additional 196 shares during the period. Arizona State Retirement System increased its stake in shares of Nuvalent by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 11,778 shares of the company’s stock worth $1,019,000 after purchasing an additional 220 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Nuvalent by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 3,290 shares of the company’s stock worth $285,000 after purchasing an additional 234 shares during the period. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Stock Down 2.9%

NASDAQ NUVL opened at $97.94 on Thursday. The stock’s 50-day simple moving average is $102.65 and its two-hundred day simple moving average is $88.63. Nuvalent has a twelve month low of $55.53 and a twelve month high of $112.88. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -18.41 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same quarter in the prior year, the company earned ($1.28) EPS. On average, equities analysts expect that Nuvalent will post -3.86 earnings per share for the current fiscal year.

Nuvalent Company Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.