Nuvalent, Inc. $NUVL Stock Position Cut by Janus Henderson Group PLC

Janus Henderson Group PLC decreased its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,237,779 shares of the company’s stock after selling 261,795 shares during the period. Janus Henderson Group PLC owned approximately 1.57% of Nuvalent worth $126,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Nuvalent by 64.8% in 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 during the period. Goldman Sachs Group Inc. increased its stake in shares of Nuvalent by 54.4% during the first quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $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 increased its stake in shares of Nuvalent by 8.8% during 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 during the period. Intech Investment Management LLC raised its holdings in Nuvalent by 28.7% during the first quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock worth $1,366,000 after purchasing an additional 4,293 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Nuvalent during the second quarter worth approximately $412,000. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Stock Performance

Shares of NASDAQ:NUVL opened at $123.96 on Friday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a 1-year low of $71.13 and a 1-year high of $123.99. The company has a 50 day moving average price of $118.13 and a 200 day moving average price of $108.10.

Nuvalent (NASDAQ:NUVL) last posted its quarterly 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 in the prior year, the company earned ($1.18) earnings per share. On average, sell-side analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction 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 owned 59,634 shares in the company, valued at $6,430,930.56. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 120,471 shares of company stock valued at $12,813,229 over the last ninety days. 5.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Lifesci Capital lowered Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target for the company. in a research note on Tuesday, June 9th. Stifel Nicolaus set a $124.00 price objective on Nuvalent in a research note on Tuesday, June 9th. Robert W. Baird set a $122.85 price objective on Nuvalent in a report on Tuesday, June 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $124.00 target price (up from $116.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Finally, Leerink Partners set a $165.00 target price on Nuvalent in a report on Wednesday, June 3rd. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $127.73.

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.