Nuvalent, Inc. $NUVL Shares Sold by Defilade Capital Management L.P.

Defilade Capital Management L.P. lowered its position in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 51.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,950 shares of the company’s stock after selling 139,093 shares during the quarter. Nuvalent accounts for approximately 1.9% of Defilade Capital Management L.P.’s investment portfolio, making the stock its 24th largest position. Defilade Capital Management L.P.’s holdings in Nuvalent were worth $13,313,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NUVL. Rhenman & Partners Asset Management AB grew its stake in shares of Nuvalent by 211.1% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 163,350 shares of the company’s stock worth $16,431,000 after purchasing an additional 110,850 shares during the last quarter. Aberdeen Group plc boosted its holdings in Nuvalent by 115.4% during 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. Nicholas Investment Partners LP boosted its holdings in Nuvalent by 29.2% during the fourth quarter. Nicholas Investment Partners LP now owns 160,483 shares of the company’s stock worth $16,143,000 after buying an additional 36,305 shares in the last quarter. Walleye Capital LLC grew its position in Nuvalent by 426.3% in the first quarter. Walleye Capital LLC now owns 41,873 shares of the company’s stock worth $4,290,000 after buying an additional 33,917 shares during the last quarter. Finally, Candriam S.C.A. grew its position in Nuvalent by 9.3% in the first quarter. Candriam S.C.A. now owns 391,306 shares of the company’s stock worth $40,089,000 after buying an additional 33,293 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Nuvalent Stock Performance

Shares of NASDAQ:NUVL opened at $123.96 on Monday. The firm has a 50 day simple moving average of $118.13 and a 200 day simple moving average of $108.16. Nuvalent, Inc. has a 52 week low of $71.13 and a 52 week high of $123.99. The company has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period in the previous year, the firm posted ($1.18) EPS. On average, equities analysts predict that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $107.84, for a total value of $593,120.00. Following the completion of the sale, the insider owned 59,634 shares of the company’s stock, valued at $6,430,930.56. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total value of $1,412,519.40. Following the transaction, the chief financial officer owned 85,533 shares in the company, valued at $10,570,168.14. This represents a 11.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 90,471 shares of company stock worth $9,762,529 over the last three months. Company insiders own 5.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Guggenheim downgraded Nuvalent from a “buy” rating to a “neutral” rating and cut their price objective for the company from $151.00 to $124.00 in a research report on Wednesday, June 10th. Piper Sandler cut Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 target price on the stock. in a report on Tuesday, June 9th. Lifesci Capital lowered Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 target price on the stock. in a research report on Tuesday, June 9th. Wall Street Zen raised Nuvalent to a “sell” rating in a report on Saturday, July 18th. Finally, Truist Financial lowered 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. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.