Seven Fleet Capital Management LP Trims Stock Position in Nuvalent, Inc. $NUVL

Seven Fleet Capital Management LP lessened its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 83.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,072 shares of the company’s stock after selling 10,529 shares during the period. Seven Fleet Capital Management LP’s holdings in Nuvalent were worth $212,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennedy Capital Management LLC grew its position in Nuvalent by 1.5% during the fourth quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock valued at $1,100,000 after buying an additional 163 shares during the period. US Bancorp DE raised its position in Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after acquiring an additional 188 shares during the period. EverSource Wealth Advisors LLC raised its position in Nuvalent by 141.3% in the first 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. AlphaCentric Advisors LLC raised its position in Nuvalent by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock worth $477,000 after acquiring an additional 253 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Nuvalent by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,736 shares of the company’s stock valued at $289,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Performance

NASDAQ NUVL opened at $123.96 on Friday. The stock’s 50 day moving average is $118.13 and its 200 day moving average is $108.10. Nuvalent, Inc. has a 12 month low of $71.13 and a 12 month high of $123.99. The stock has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last announced 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 quarter last year, the firm earned ($1.18) EPS. On average, analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NUVL has been the topic of several recent research reports. Truist Financial downgraded Nuvalent from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $140.00 to $124.00 in a research note on Tuesday, June 9th. Sanford C. Bernstein downgraded Nuvalent from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $172.00 to $124.00 in a research note on Wednesday, June 24th. Raymond James Financial lowered shares of Nuvalent from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Lifesci Capital downgraded shares of Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target on the stock. in a report on Tuesday, June 9th. Finally, Guggenheim lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $151.00 to $124.00 in a research report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nuvalent presently has a consensus rating of “Hold” and a consensus price target of $127.73.

Insider Activity at Nuvalent

In other Nuvalent news, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Richard Porter sold 30,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the transaction, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at $33,036,945.51. This trade represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 120,471 shares of company stock valued at $12,813,229. Insiders own 5.02% of the company’s stock.

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.