Nuvalent (NASDAQ:NUVL) Insider Sells $474,550.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 5,000 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $94.91, for a total value of $474,550.00. Following the sale, the insider owned 49,086 shares of the company’s stock, valued at approximately $4,658,752.26. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The stock was sold at an average price of $91.66, for a total value of $1,134,384.16.
• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The stock was sold at an average price of $89.98, for a total value of $1,405,847.52.

Nuvalent Stock Up 2.8%

NUVL stock opened at $93.39 on Friday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of -19.06 and a beta of 1.30. The business has a fifty day simple moving average of $82.07 and a 200-day simple moving average of $77.91. Nuvalent, Inc. has a 52 week low of $55.53 and a 52 week high of $99.94.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.04). During the same quarter last year, the firm earned ($0.88) EPS. As a group, analysts expect that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Nuvalent to a “strong-buy” rating in a research note on Monday, June 30th. Raymond James Financial assumed coverage on shares of Nuvalent in a research note on Tuesday, September 2nd. They issued an “outperform” rating and a $105.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of Nuvalent in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Wednesday, October 8th. Finally, Stifel Nicolaus assumed coverage on shares of Nuvalent in a report on Thursday, October 16th. They set a “buy” rating and a $115.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Nuvalent currently has an average rating of “Moderate Buy” and an average target price of $120.00.

Institutional Investors Weigh In On Nuvalent

Large investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Nuvalent by 588.5% during the 1st quarter. CWM LLC now owns 420 shares of the company’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Nuvalent during the 1st quarter worth $38,000. Covestor Ltd grew its holdings in Nuvalent by 705.7% during the 1st quarter. Covestor Ltd now owns 983 shares of the company’s stock worth $70,000 after acquiring an additional 861 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in Nuvalent during the 2nd quarter worth $88,000. Finally, Farther Finance Advisors LLC grew its holdings in Nuvalent by 9,230.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock worth $93,000 after acquiring an additional 1,200 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.