Vanguard Group Inc. Boosts Stock Position in Nuvalent, Inc. $NUVL

Vanguard Group Inc. lifted its position in Nuvalent, Inc. (NASDAQ:NUVL) by 13.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,244,271 shares of the company’s stock after buying an additional 639,264 shares during the quarter. Vanguard Group Inc. owned 0.07% of Nuvalent worth $527,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Nuvalent in the 3rd quarter valued at approximately $38,000. Eastern Bank purchased a new position in Nuvalent in the 3rd quarter valued at approximately $52,000. NBC Securities Inc. purchased a new stake in Nuvalent during the 4th quarter worth about $125,000. Finally, KBC Group NV increased its holdings in Nuvalent by 24.1% during the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NUVL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Cantor Fitzgerald upped their price target on Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Wells Fargo & Company started coverage on Nuvalent in a report on Monday, March 30th. They set an “overweight” rating and a $116.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $155.00 price target on shares of Nuvalent in a report on Tuesday, April 21st. Finally, Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Nuvalent in a report on Wednesday, April 8th. Sixteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nuvalent has an average rating of “Moderate Buy” and a consensus target price of $137.25.

Insiders Place Their Bets

In other news, insider Henry E. Pelish sold 3,093 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $104.48, for a total transaction of $323,156.64. Following the completion of the transaction, the insider directly owned 65,604 shares of the company’s stock, valued at approximately $6,854,305.92. This represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $99.22, for a total value of $545,710.00. Following the transaction, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $5,916,885.48. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 50,023 shares of company stock valued at $5,184,517. 10.20% of the stock is owned by insiders.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $102.62 on Tuesday. The stock has a 50-day simple moving average of $101.94 and a 200-day simple moving average of $102.10. The stock has a market cap of $8.07 billion, a P/E ratio of -17.54 and a beta of 1.15. Nuvalent, Inc. has a 1 year low of $63.56 and a 1 year high of $113.01.

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.