Nuvalent (NASDAQ:NUVL) Shares Down 6.7% – Here’s Why

Nuvalent, Inc. (NASDAQ:NUVL)’s stock price traded down 6.7% on Monday . The stock traded as low as $97.66 and last traded at $98.03. 545,796 shares changed hands during trading, a decline of 18% from the average session volume of 667,386 shares. The stock had previously closed at $105.05.

Analyst Ratings Changes

Several research analysts have issued reports on NUVL shares. Stifel Nicolaus raised their price target on shares of Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Leerink Partners raised their price objective on Nuvalent from $140.00 to $149.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Canaccord Genuity Group began coverage on shares of Nuvalent in a research report on Wednesday, November 12th. They set a “buy” rating and a $126.00 target price for the company. Cantor Fitzgerald started coverage on Nuvalent in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price target for the company. Finally, Robert W. Baird lifted their target price on shares of Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nuvalent has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Nuvalent Trading Down 5.6%

The company has a market capitalization of $7.21 billion, a P/E ratio of -18.64 and a beta of 1.32. The company’s fifty day moving average is $102.85 and its 200 day moving average is $89.37.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data 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 firm earned ($1.28) EPS. Equities research analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current year.

Insiders Place Their Bets

In other Nuvalent news, CFO Alexandra Balcom sold 3,181 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total transaction of $309,065.96. Following the completion of the sale, the chief financial officer directly owned 81,733 shares in the company, valued at $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 is available at this hyperlink. Also, CEO James Richard Porter sold 9,543 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the transaction, the chief executive officer directly owned 278,629 shares in the company, valued at $27,071,593.64. This trade represents a 3.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,016,587 shares of company stock valued at $97,737,835 over the last three months. 10.20% of the stock is currently owned by company insiders.

Institutional Trading of Nuvalent

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew 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 purchasing an additional 108 shares during the last quarter. US Bancorp DE grew its holdings in Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after acquiring an additional 188 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Nuvalent by 3.7% in the second 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 raised its stake in shares of Nuvalent by 1.9% during the third quarter. Arizona State Retirement System now owns 11,778 shares of the company’s stock valued at $1,019,000 after acquiring an additional 220 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Nuvalent by 7.7% during the third 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. Institutional investors own 97.26% of the company’s stock.

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.