Nuvalent (NASDAQ:NUVL) CFO Alexandra Balcom Sells 11,430 Shares

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total value of $1,412,519.40. Following the transaction, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at $10,570,168.14. This represents a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Monday, June 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $98.69, for a total transaction of $1,128,026.70.

Nuvalent Price Performance

Shares of NUVL traded down $0.01 on Monday, reaching $123.72. 1,813,773 shares of the stock traded hands, compared to its average volume of 1,352,910. The stock’s 50-day moving average price is $109.70 and its 200-day moving average price is $105.13. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of -20.42 and a beta of 1.14. Nuvalent, Inc. has a 12 month low of $71.13 and a 12 month high of $123.80.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same period in the previous year, the company posted ($1.18) EPS. As a group, equities research analysts forecast that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NUVL has been the topic of a number of recent research reports. Canaccord Genuity Group lowered Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Raymond James Financial cut shares of Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Sanford C. Bernstein downgraded Nuvalent from an “outperform” rating to a “market perform” rating and cut their price target for the company from $172.00 to $124.00 in a research note on Wednesday, June 24th. Lifesci Capital downgraded Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price objective for the company. in a report on Tuesday, June 9th. Finally, Wedbush cut Nuvalent from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $124.00 in a research note on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nuvalent currently has a consensus rating of “Hold” and an average price target of $127.73.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Nuvalent by 141.3% in the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Nuvalent during the 4th quarter worth about $125,000. KBC Group NV grew its stake in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after buying an additional 297 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.