Artia Global Partners LP Purchases Shares of 8,100 Nuvalent, Inc. $NUVL

Artia Global Partners LP purchased a new stake in Nuvalent, Inc. (NASDAQ:NUVL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,100 shares of the company’s stock, valued at approximately $815,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nuvalent during the third quarter worth about $38,000. NBC Securities Inc. acquired a new stake in shares of Nuvalent during the fourth quarter worth about $125,000. KBC Group NV increased its position in shares of Nuvalent by 24.1% during the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after purchasing an additional 297 shares in the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in shares of Nuvalent during the third quarter worth about $172,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NUVL. Leerink Partners set a $165.00 target price on Nuvalent in a research report on Wednesday, June 3rd. Barclays reiterated an “equal weight” rating and set a $124.00 target price (down from $152.00) on shares of Nuvalent in a research report on Tuesday, June 9th. Canaccord Genuity Group cut Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Cantor Fitzgerald cut Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Finally, Stifel Nicolaus set a $124.00 target price on Nuvalent in a research report on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nuvalent has an average rating of “Hold” and an average price target of $131.15.

Nuvalent Stock Down 0.0%

NASDAQ NUVL opened at $123.36 on Thursday. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.62. The business’s 50-day moving average price is $105.32 and its 200 day moving average price is $103.71. The firm has a market cap of $9.75 billion, a P/E ratio of -20.36 and a beta of 1.15.

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

Insider Transactions at Nuvalent

In other news, insider Deborah Ann Miller sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $107.84, for a total transaction of $593,120.00. Following the sale, the insider owned 59,634 shares of the company’s stock, valued at $6,430,930.56. The trade was a 8.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $98.69, for a total value of $1,128,026.70. Following the sale, the chief financial officer directly owned 85,533 shares in the company, valued at $8,441,251.77. This trade represents a 11.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 126,953 shares of company stock worth $12,612,264 over the last quarter. Insiders own 5.02% of the company’s stock.

Nuvalent Company 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.