Nuvalent (NASDAQ:NUVL) CFO Sells $309,065.96 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 3,181 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total value of $309,065.96. Following the completion of the transaction, the chief financial officer directly owned 81,733 shares in the company, valued at approximately $7,941,178.28. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Monday, January 5th, Alexandra Balcom sold 4,236 shares of Nuvalent stock. The shares were sold at an average price of $97.32, for a total transaction of $412,247.52.
• On Monday, December 8th, Alexandra Balcom sold 7,084 shares of Nuvalent stock. The shares were sold at an average price of $110.32, for a total transaction of $781,506.88.
• On Monday, November 17th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The stock was sold at an average price of $99.45, for a total transaction of $1,989,000.00.
• On Tuesday, November 18th, Alexandra Balcom sold 729 shares of Nuvalent stock. The shares were sold at an average price of $104.26, for a total transaction of $76,005.54.
• On Wednesday, October 15th, Alexandra Balcom sold 1,683 shares of Nuvalent stock. The shares were sold at an average price of $85.57, for a total transaction of $144,014.31.
• On Monday, October 13th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The shares were sold at an average price of $88.51, for a total transaction of $1,770,200.00.

Nuvalent Stock Up 2.3%

Shares of Nuvalent stock opened at $105.05 on Friday. Nuvalent, Inc. has a twelve month low of $55.53 and a twelve month high of $112.88. The business has a 50-day moving average price of $102.85 and a 200-day moving average price of $89.21. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of -19.75 and a beta of 1.32.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its holdings in Nuvalent by 6.6% during the 1st quarter. Voya Investment Management LLC now owns 120,311 shares of the company’s stock valued at $8,532,000 after acquiring an additional 7,414 shares during the period. Rhumbline Advisers lifted its position in shares of Nuvalent by 24.5% during the second quarter. Rhumbline Advisers now owns 66,029 shares of the company’s stock worth $5,038,000 after purchasing an additional 13,003 shares during the last quarter. Voleon Capital Management LP purchased a new stake in shares of Nuvalent during the first quarter valued at $1,489,000. Norges Bank bought a new position in shares of Nuvalent in the second quarter worth about $28,582,000. Finally, Strs Ohio purchased a new position in Nuvalent in the 1st quarter worth about $404,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NUVL shares. Cantor Fitzgerald began coverage on shares of Nuvalent in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price target on the stock. Guggenheim boosted their target price on shares of Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Truist Financial set a $140.00 target price on shares of Nuvalent in a research report on Monday, November 24th. HC Wainwright lifted their price target on Nuvalent from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Wedbush reissued an “outperform” rating and set a $125.00 price objective (up from $120.00) on shares of Nuvalent in a research note on Monday, November 17th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nuvalent currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

About Nuvalent

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.