Cantor Fitzgerald L. P. Makes New $1.95 Million Investment in Nuvalent, Inc. $NUVL

Cantor Fitzgerald L. P. bought a new position in Nuvalent, Inc. (NASDAQ:NUVL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,500 shares of the company’s stock, valued at approximately $1,946,000.

A number of other large investors have also modified their holdings of the stock. AQR Capital Management LLC lifted its position in Nuvalent by 64.8% during the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock worth $700,000 after acquiring an additional 3,881 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Nuvalent by 54.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock worth $32,171,000 after acquiring an additional 159,873 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nuvalent by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after acquiring an additional 12,123 shares in the last quarter. Intech Investment Management LLC grew its position in Nuvalent by 28.7% in the first quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after acquiring an additional 4,293 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Nuvalent by 24.9% during the second quarter. Bank of New York Mellon Corp now owns 143,375 shares of the company’s stock valued at $10,940,000 after purchasing an additional 28,549 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Stock Down 1.6%

NASDAQ:NUVL opened at $97.43 on Thursday. The company has a market cap of $7.08 billion, a PE ratio of -16.65 and a beta of 1.32. The business’s 50 day moving average is $102.85 and its two-hundred day moving average is $97.41. Nuvalent, Inc. has a 52 week low of $55.53 and a 52 week high of $113.01.

Insider Activity

In other Nuvalent news, insider Christopher Durant Turner sold 4,236 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $97.32, for a total transaction of $412,247.52. Following the sale, the insider directly owned 58,311 shares of the company’s stock, valued at approximately $5,674,826.52. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry E. Pelish sold 2,664 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $97.17, for a total transaction of $258,860.88. Following the completion of the transaction, the insider owned 65,888 shares in the company, valued at approximately $6,402,336.96. The trade was a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 69,379 shares of company stock valued at $6,940,982 over the last three months. 10.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on NUVL. Truist Financial set a $140.00 target price on shares of Nuvalent in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a report on Thursday, January 22nd. Cantor Fitzgerald upped their price objective on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. UBS Group restated a “buy” rating on shares of Nuvalent in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. cut their price target on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.67.

Nuvalent 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.