PSP Research LLC Takes Position in Nuvalent, Inc. $NUVL

PSP Research LLC acquired a new stake in Nuvalent, Inc. (NASDAQ:NUVL) in the 4th quarter, Holdings Channel reports. The firm acquired 5,261 shares of the company’s stock, valued at approximately $529,000.

Several other hedge funds also recently modified their holdings of the stock. Profund Advisors LLC increased its stake in shares of Nuvalent by 64.1% in the 4th quarter. Profund Advisors LLC now owns 17,536 shares of the company’s stock valued at $1,764,000 after acquiring an additional 6,849 shares in the last quarter. ProShare Advisors LLC grew its position in Nuvalent by 26.7% in the 4th quarter. ProShare Advisors LLC now owns 12,318 shares of the company’s stock valued at $1,239,000 after purchasing an additional 2,595 shares during the period. Swiss Life Asset Management Ltd acquired a new stake in Nuvalent in the 4th quarter valued at $202,000. Strs Ohio grew its position in Nuvalent by 44.4% in the 4th quarter. Strs Ohio now owns 11,700 shares of the company’s stock valued at $1,177,000 after purchasing an additional 3,600 shares during the period. Finally, Comerica Bank grew its position in Nuvalent by 25,180.0% in the 4th quarter. Comerica Bank now owns 20,224 shares of the company’s stock valued at $2,034,000 after purchasing an additional 20,144 shares during the period. Institutional investors own 97.26% of the company’s stock.

Nuvalent Price Performance

NUVL opened at $101.00 on Wednesday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of -16.67 and a beta of 1.15. The firm’s fifty day moving average price is $102.16 and its two-hundred day moving average price is $102.72. Nuvalent, Inc. has a 1 year low of $70.25 and a 1 year high of $113.01.

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

Analysts Set New Price Targets

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

Insider Activity

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the transaction, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at $8,998,926.93. The trade was a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $99.22, for a total transaction of $545,710.00. Following the transaction, the insider directly owned 59,634 shares in the company, valued at $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. Insiders sold 80,023 shares of company stock valued at $8,235,217 over the last quarter. 5.02% of the stock is owned by insiders.

Nuvalent 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.