25,000 Shares in Nuvalent, Inc. $NUVL Purchased by Seven Grand Managers LLC

Seven Grand Managers LLC purchased a new position in Nuvalent, Inc. (NASDAQ:NUVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $2,515,000.

Other institutional investors also recently bought and sold shares of the company. Candriam S.C.A. raised its stake in Nuvalent by 9.4% in the third quarter. Candriam S.C.A. now owns 329,721 shares of the company’s stock worth $28,514,000 after buying an additional 28,462 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in Nuvalent in the third quarter worth about $1,297,000. HighVista Strategies LLC raised its stake in Nuvalent by 84.9% in the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company’s stock worth $8,068,000 after buying an additional 42,834 shares in the last quarter. Aberdeen Group plc raised its stake in Nuvalent by 115.4% in the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company’s stock worth $16,615,000 after buying an additional 88,489 shares in the last quarter. Finally, Cantor Fitzgerald L. P. bought a new position in Nuvalent in the third quarter worth about $1,946,000. 97.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO James Richard Porter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the sale, the chief executive officer owned 324,879 shares in the company, valued at $33,036,945.51. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Henry E. Pelish sold 3,093 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total transaction of $323,156.64. Following the sale, the insider owned 65,604 shares in the company, valued at approximately $6,854,305.92. The trade was a 4.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 80,023 shares of company stock worth $8,235,217. Corporate insiders own 5.02% of the company’s stock.

Nuvalent Stock Performance

Shares of NASDAQ NUVL opened at $107.38 on Thursday. Nuvalent, Inc. has a fifty-two week low of $70.25 and a fifty-two week high of $113.01. The company has a 50 day simple moving average of $102.56 and a two-hundred day simple moving average of $103.08. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of -17.72 and a beta of 1.15.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter last year, the company earned ($1.18) EPS. On average, analysts forecast that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NUVL shares. Cantor Fitzgerald increased their price target on shares of Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Wells Fargo & Company assumed coverage on shares of Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $155.00 target price on shares of Nuvalent in a research note on Tuesday, April 21st. Sanford C. Bernstein assumed coverage on shares of Nuvalent in a research note on Thursday, May 21st. They set an “outperform” rating and a $189.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Nuvalent has an average rating of “Moderate Buy” and an average price target of $140.29.

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.