Great Lakes Advisors LLC acquired a new position in Nuvalent, Inc. (NASDAQ:NUVL – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 103,712 shares of the company’s stock, valued at approximately $4,374,000. Great Lakes Advisors LLC owned approximately 0.18% of Nuvalent as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in Nuvalent by 0.9% during the 1st quarter. FMR LLC now owns 7,690,424 shares of the company’s stock valued at $200,643,000 after buying an additional 70,864 shares during the period. Fairmount Funds Management LLC lifted its holdings in shares of Nuvalent by 3.4% in the 1st quarter. Fairmount Funds Management LLC now owns 2,884,492 shares of the company’s stock worth $75,256,000 after acquiring an additional 95,511 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Nuvalent by 2.0% in the 1st quarter. Perceptive Advisors LLC now owns 2,300,048 shares of the company’s stock worth $60,008,000 after acquiring an additional 45,041 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Nuvalent by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,195,898 shares of the company’s stock worth $57,291,000 after purchasing an additional 19,159 shares during the period. Finally, Avoro Capital Advisors LLC grew its holdings in Nuvalent by 21.4% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the company’s stock valued at $49,281,000 after purchasing an additional 333,333 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Nuvalent news, insider Deborah Ann Miller sold 2,000 shares of Nuvalent stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $47.64, for a total value of $95,280.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Deborah Ann Miller sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $47.64, for a total value of $95,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Shair sold 91,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $50.70, for a total transaction of $4,649,190.00. Following the transaction, the director now owns 1,852,998 shares of the company’s stock, valued at approximately $93,946,998.60. The disclosure for this sale can be found here. Insiders sold 110,695 shares of company stock worth $5,611,820 in the last three months. 14.77% of the stock is owned by insiders.
Nuvalent Price Performance
Nuvalent (NASDAQ:NUVL – Get Free Report) last posted its earnings results on Tuesday, November 14th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.01). On average, analysts anticipate that Nuvalent, Inc. will post -2.16 earnings per share for the current fiscal year.
Analyst Ratings Changes
NUVL has been the subject of several recent analyst reports. SVB Securities initiated coverage on Nuvalent in a research report on Tuesday, August 8th. They set a “market perform” rating and a $42.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Nuvalent in a research report on Wednesday, October 4th. BMO Capital Markets lifted their target price on Nuvalent from $73.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Wedbush reissued an “outperform” rating and set a $74.00 target price on shares of Nuvalent in a research note on Tuesday, November 14th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Nuvalent in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.86.
Nuvalent Company Profile
Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a brain-penetrant ROS1-selective inhibitor to inhibit ROS1 fusions that express the normal ROS1 kinase domain without any drug-resistant mutations and remain active in the presence of mutations conferring resistance to approved and investigational ROS1 inhibitors, which is under Phase I development; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, central nervous system-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under Phase ½ clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is ongoing IND-enabling studies.
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