Brokerages Set Nuvalent, Inc. (NASDAQ:NUVL) PT at $127.73

Nuvalent, Inc. (NASDAQ:NUVL) has earned a consensus rating of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $127.7289.

NUVL has been the topic of a number of research analyst reports. Lifesci Capital downgraded Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 target price on the stock. in a research report on Tuesday, June 9th. Stifel Nicolaus set a $124.00 price objective on Nuvalent in a research report on Tuesday, June 9th. HC Wainwright lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price objective on the stock. in a report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. Finally, Wedbush cut shares of Nuvalent from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $124.00 in a research report on Tuesday, June 9th.

Nuvalent Price Performance

Nuvalent stock opened at $123.96 on Monday. The firm has a 50 day simple moving average of $115.04 and a 200-day simple moving average of $107.05. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. Nuvalent has a 1-year low of $71.13 and a 1-year high of $123.99.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm earned ($1.18) EPS. Equities analysts expect that Nuvalent will post -5.74 earnings per share for the current fiscal year.

Insider Activity at Nuvalent

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total value of $593,120.00. Following the completion of the sale, the insider directly owned 59,634 shares in the company, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 125,971 shares of company stock valued at $13,358,939. 5.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvalent

Institutional investors have recently modified their holdings of the company. RA Capital Management L.P. purchased a new position in Nuvalent during the 3rd quarter valued at about $107,794,000. Wellington Management Group LLP increased its stake in Nuvalent by 46.0% during the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after purchasing an additional 724,491 shares during the period. Vanguard Group Inc. increased its stake in Nuvalent by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after purchasing an additional 639,264 shares during the period. Norges Bank acquired a new stake in shares of Nuvalent during the fourth quarter worth about $57,763,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Nuvalent by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after purchasing an additional 545,542 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

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.