Dimensional Fund Advisors LP Increases Holdings in Nuvalent, Inc. $NUVL

Dimensional Fund Advisors LP increased its position in Nuvalent, Inc. (NASDAQ:NUVL) by 81.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,893 shares of the company’s stock after buying an additional 8,487 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Nuvalent were worth $1,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NUVL. AQR Capital Management LLC grew its position in Nuvalent by 64.8% during the first quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after acquiring an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Nuvalent by 54.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock worth $32,171,000 after acquiring an additional 159,873 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Nuvalent by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock worth $10,634,000 after acquiring an additional 12,123 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Nuvalent by 28.7% in the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after purchasing an additional 4,293 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Nuvalent in the 2nd quarter valued at $412,000. 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 firm has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a fifty-two week low of $71.13 and a fifty-two week high of $123.99. The business has a 50 day moving average price of $122.39 and a 200-day moving average price of $109.28.

Analyst Ratings Changes

NUVL has been the topic of several recent research reports. UBS Group lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and reduced their target price for the company from $138.00 to $124.00 in a report on Wednesday, June 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $124.00 price target (up from $116.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of Nuvalent to a “sell” rating in a research report on Saturday, July 18th. Wedbush cut Nuvalent from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $124.00 in a research note on Tuesday, June 9th. Finally, 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 report on Tuesday, June 9th. Four 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $127.73.

Insider Activity

In other Nuvalent news, insider Henry E. Pelish sold 2,111 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $123.81, for a total transaction of $261,362.91. Following the completion of the sale, the insider owned 63,493 shares of the company’s stock, valued at $7,861,068.33. This represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the sale, the chief financial officer directly owned 85,533 shares in the company, valued at approximately $10,570,168.14. This trade represents a 11.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 90,471 shares of company stock valued at $9,762,529 in the last three months. Corporate 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.