Nuvalent (NASDAQ:NUVL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nuvalent (NASDAQ:NUVL) to a sell rating in a research report sent to investors on Saturday morning.

A number of other research firms also recently commented on NUVL. Cantor Fitzgerald downgraded Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Sanford C. Bernstein cut Nuvalent from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $172.00 to $124.00 in a research report on Wednesday, June 24th. Robert W. Baird set a $122.85 price target on Nuvalent in a research note on Tuesday, June 9th. Stifel Nicolaus set a $124.00 price objective on shares of Nuvalent in a research report on Tuesday, June 9th. Finally, Barclays reissued an “equal weight” rating and issued a $124.00 price objective (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $127.73.

Nuvalent Price Performance

Shares of NASDAQ:NUVL opened at $123.96 on Friday. Nuvalent has a fifty-two week low of $71.13 and a fifty-two week high of $123.99. The firm’s 50-day simple moving average is $114.23 and its 200-day simple moving average is $106.72. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last issued its earnings results 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 last year, the firm earned ($1.18) earnings per share. On average, research analysts forecast that Nuvalent will post -5.74 EPS for the current year.

Insider Buying and Selling

In other news, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the transaction, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at $10,570,168.14. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $107.84, for a total value of $593,120.00. Following the sale, the insider owned 59,634 shares of the company’s stock, valued at approximately $6,430,930.56. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 125,971 shares of company stock worth $13,358,939. 5.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvalent

A number of institutional investors have recently modified their holdings of NUVL. GAMMA Investing LLC boosted its position in Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Nuvalent by 141.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after acquiring an additional 195 shares during the period. NBC Securities Inc. acquired a new position in Nuvalent in the 4th quarter valued at $125,000. KBC Group NV raised its holdings in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after acquiring an additional 297 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 97.26% 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.