HighVista Strategies LLC Raises Position in Nuvalent, Inc. $NUVL

HighVista Strategies LLC increased its position in Nuvalent, Inc. (NASDAQ:NUVL) by 84.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,294 shares of the company’s stock after purchasing an additional 42,834 shares during the period. Nuvalent accounts for about 2.0% of HighVista Strategies LLC’s investment portfolio, making the stock its 7th biggest holding. HighVista Strategies LLC’s holdings in Nuvalent were worth $8,068,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its holdings in Nuvalent by 10.0% in the third 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 raised 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 worth $420,000 after purchasing an additional 196 shares during the period. Arizona State Retirement System lifted its holdings 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 during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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 last quarter. Finally, Profund Advisors LLC boosted its position in Nuvalent by 2.7% during the 3rd quarter. Profund Advisors LLC now owns 10,687 shares of the company’s stock valued at $924,000 after purchasing an additional 279 shares during the period. 97.26% of the stock is currently owned by institutional investors.

Insider Activity at Nuvalent

In related news, insider Henry E. Pelish sold 2,664 shares of Nuvalent stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $97.17, for a total transaction of $258,860.88. Following the sale, the insider directly owned 65,888 shares in the company, valued at $6,402,336.96. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Deborah Ann Miller sold 14,300 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $110.16, for a total transaction of $1,575,288.00. Following the completion of the sale, the insider directly owned 59,634 shares of the company’s stock, valued at $6,569,281.44. The trade was a 19.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 69,379 shares of company stock valued at $6,940,982. 10.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NUVL. JPMorgan Chase & Co. lowered their price objective on Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Wedbush reissued an “outperform” rating and set a $125.00 price target (up from $120.00) on shares of Nuvalent in a report on Monday, November 17th. Robert W. Baird upped their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Thursday, January 22nd. Finally, Guggenheim boosted their target price on shares of Nuvalent from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $97.93 on Monday. Nuvalent, Inc. has a 1-year low of $55.53 and a 1-year high of $113.01. The business’s fifty day moving average price is $102.97 and its two-hundred day moving average price is $97.09. The company has a market capitalization of $7.12 billion, a P/E ratio of -16.74 and a beta of 1.32.

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.