Nuvalent (NASDAQ:NUVL) Insider Sells $593,120.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the transaction, the insider directly owned 59,634 shares of the company’s stock, valued at $6,430,930.56. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, April 30th, Deborah Ann Miller sold 5,500 shares of Nuvalent stock. The shares were sold at an average price of $99.22, for a total transaction of $545,710.00.

Nuvalent Stock Down 1.3%

Nuvalent stock opened at $90.18 on Thursday. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $113.01. The firm has a 50 day moving average price of $102.75 and a 200-day moving average price of $103.22. The company has a market capitalization of $7.12 billion, a P/E ratio of -14.88 and a beta of 1.15.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period in the prior year, the company earned ($1.18) EPS. Equities analysts expect that Nuvalent, Inc. will post -5.78 EPS for the current fiscal year.

Institutional Trading of Nuvalent

Several institutional investors and hedge funds have recently bought and sold shares of NUVL. RA Capital Management L.P. purchased a new stake in Nuvalent in the 3rd quarter worth approximately $107,794,000. Wellington Management Group LLP lifted its stake in Nuvalent by 46.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after purchasing an additional 724,491 shares in the last quarter. Vanguard Group Inc. lifted its stake in Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after purchasing an additional 639,264 shares in the last quarter. Norges Bank purchased a new stake in Nuvalent in the 4th quarter worth approximately $57,763,000. Finally, JPMorgan Chase & Co. lifted its stake in Nuvalent by 32.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after purchasing an additional 545,542 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on NUVL shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Nuvalent in a report on Tuesday. Sanford C. Bernstein started coverage on shares of Nuvalent in a report on Thursday, May 21st. They issued an “outperform” rating and a $189.00 price objective for the company. Leerink Partners set a $165.00 price objective on shares of Nuvalent in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Nuvalent in a report on Tuesday, April 21st. Finally, Wells Fargo & Company started coverage on shares of Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.24.

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.