Insider Selling: Nuvalent (NASDAQ:NUVL) Insider Sells $242,910.72 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Henry Pelish sold 2,496 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $97.32, for a total value of $242,910.72. Following the transaction, the insider owned 68,552 shares in the company, valued at $6,671,480.64. The trade was a 3.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nuvalent Stock Performance

Shares of Nuvalent stock opened at $105.05 on Friday. The firm has a 50-day moving average of $102.85 and a 200-day moving average of $89.21. Nuvalent, Inc. has a 52-week low of $55.53 and a 52-week high of $112.88. The stock has a market cap of $7.64 billion, a PE ratio of -19.75 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period last year, the business posted ($1.28) EPS. Equities research analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Trading of Nuvalent

A number of institutional investors and hedge funds have recently bought and sold shares of NUVL. AQR Capital Management LLC raised its stake in Nuvalent by 64.8% during the first quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock worth $700,000 after buying an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Nuvalent by 54.4% in the first quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after purchasing an additional 159,873 shares in the last quarter. Voleon Capital Management LP acquired a new position in shares of Nuvalent during the first quarter valued at about $1,489,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Nuvalent by 28.7% during the first quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after buying an additional 4,293 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NUVL has been the subject of several recent research reports. Canaccord Genuity Group assumed coverage on Nuvalent in a research report on Wednesday, November 12th. They set a “buy” rating and a $126.00 price target on the stock. Stifel Nicolaus upped their target price on Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Piper Sandler increased their target price on Nuvalent from $112.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Truist Financial set a $140.00 price target on Nuvalent in a research report on Monday, November 24th. Finally, Robert W. Baird upped their price objective on shares of Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Fifteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.33.

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.