Nuvalent, Inc. (NASDAQ:NUVL) Receives $127.73 Average Target Price from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has received a consensus rating of “Hold” from the twenty research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $127.7289.

NUVL has been the topic of a number of analyst reports. Wedbush lowered shares of Nuvalent from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $124.00 in a report on Tuesday, June 9th. TD Cowen lowered shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price objective on the stock. in a research report on Tuesday, June 9th. Stifel Nicolaus set a $124.00 price target on Nuvalent in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Nuvalent to a “sell” rating in a research note on Saturday, July 18th. Finally, Truist Financial cut Nuvalent from a “buy” rating to a “hold” rating and decreased their price target for the company from $140.00 to $124.00 in a research report on Tuesday, June 9th.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $123.96 on Monday. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. The company’s fifty day moving average is $115.86 and its 200 day moving average is $107.33. Nuvalent has a twelve month low of $71.13 and a twelve month high of $123.99.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter last year, the business posted ($1.18) EPS. As a group, equities analysts anticipate that Nuvalent will post -5.74 earnings per share for the current fiscal year.

Insider Transactions at Nuvalent

In related news, CEO James Richard Porter sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $123.72, for a total value of $3,711,600.00. Following the completion of the sale, the chief executive officer owned 324,879 shares in the company, valued at $40,194,029.88. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alexandra Balcom sold 11,430 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the sale, the chief financial officer owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. The trade was a 11.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 125,971 shares of company stock worth $13,358,939. 5.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvalent

A number of institutional investors have recently added to or reduced their stakes in NUVL. RA Capital Management L.P. purchased a new position in Nuvalent during the third quarter valued at $107,794,000. Wellington Management Group LLP raised its position in shares of Nuvalent by 46.0% during the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after buying an additional 724,491 shares during the last quarter. Vanguard Group Inc. increased its holdings in Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after acquiring an additional 639,264 shares during the last quarter. Norges Bank purchased a new stake in shares of Nuvalent in the fourth quarter worth about $57,763,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Nuvalent by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock valued at $221,826,000 after acquiring an additional 545,542 shares during the last quarter. Institutional investors 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.