Braidwell LP Sells 162,894 Shares of Nuvalent, Inc. $NUVL

Braidwell LP decreased its holdings in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 13.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,012,982 shares of the company’s stock after selling 162,894 shares during the period. Nuvalent accounts for about 2.6% of Braidwell LP’s portfolio, making the stock its 11th largest position. Braidwell LP’s holdings in Nuvalent were worth $87,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of Nuvalent by 8.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 527,050 shares of the company’s stock worth $45,579,000 after buying an additional 42,707 shares in the last quarter. Creative Planning raised its position in shares of Nuvalent by 30.3% during the 3rd quarter. Creative Planning now owns 22,520 shares of the company’s stock valued at $1,948,000 after buying an additional 5,232 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Nuvalent during the 3rd quarter valued at about $342,000. Squarepoint Ops LLC bought a new position in shares of Nuvalent in the 3rd quarter valued at about $642,000. Finally, Wellington Management Group LLP grew its position in Nuvalent by 46.0% in the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after acquiring an additional 724,491 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Activity

In other Nuvalent news, insider Henry E. Pelish sold 2,664 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $97.17, for a total value of $258,860.88. Following the sale, the insider owned 65,888 shares in the company, valued at $6,402,336.96. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Deborah Ann Miller sold 14,300 shares of Nuvalent stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $110.16, for a total value of $1,575,288.00. Following the sale, the insider owned 59,634 shares of the company’s stock, valued at approximately $6,569,281.44. This trade represents a 19.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 69,379 shares of company stock worth $6,940,982 in the last three months. Corporate insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

NUVL has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on Nuvalent from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Stifel Nicolaus lifted their target price on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, November 17th. UBS Group reissued a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Truist Financial set a $140.00 price target on Nuvalent in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.67.

Nuvalent Price Performance

Shares of NASDAQ:NUVL opened at $97.93 on Friday. The firm has a market capitalization of $7.12 billion, a PE ratio of -16.74 and a beta of 1.32. The business has a 50 day simple moving average of $102.97 and a two-hundred day simple moving average of $96.94. Nuvalent, Inc. has a 1 year low of $55.53 and a 1 year high of $113.01.

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.