Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 12,376 Shares

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 12,376 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $91.66, for a total value of $1,134,384.16. Following the completion of the sale, the insider directly owned 49,086 shares of the company’s stock, valued at approximately $4,499,222.76. The trade was a 20.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Deborah Ann Miller also recently made the following trade(s):

• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The shares were sold at an average price of $89.98, for a total value of $1,405,847.52.

Nuvalent Stock Up 2.3%

NUVL opened at $92.52 on Friday. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $104.81. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -18.88 and a beta of 1.30. The business has a 50 day moving average of $80.32 and a 200-day moving average of $76.93.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same period last year, the business earned ($0.88) earnings per share. As a group, analysts expect that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Hedge Funds Weigh In On Nuvalent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUVL. Exchange Traded Concepts LLC raised its holdings in Nuvalent by 10.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,654 shares of the company’s stock valued at $117,000 after acquiring an additional 161 shares in the last quarter. GF Fund Management CO. LTD. raised its holdings in Nuvalent by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,680 shares of the company’s stock valued at $119,000 after acquiring an additional 302 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Nuvalent by 23.4% in the 1st quarter. New York State Common Retirement Fund now owns 20,936 shares of the company’s stock valued at $1,485,000 after acquiring an additional 3,965 shares in the last quarter. CWM LLC raised its holdings in Nuvalent by 588.5% in the 1st quarter. CWM LLC now owns 420 shares of the company’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Nuvalent by 480.9% in the 1st quarter. Edgestream Partners L.P. now owns 68,101 shares of the company’s stock valued at $4,830,000 after acquiring an additional 56,377 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NUVL shares. The Goldman Sachs Group raised Nuvalent to a “strong-buy” rating in a report on Monday, June 30th. Raymond James Financial started coverage on Nuvalent in a report on Tuesday, September 2nd. They set an “outperform” rating and a $105.00 price target for the company. Guggenheim started coverage on Nuvalent in a report on Thursday, September 4th. They set a “buy” rating and a $122.00 price target for the company. Robert W. Baird lifted their price target on Nuvalent from $105.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Nuvalent in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

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 novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 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 expected to initiate phase 1 trial.