Deborah Ann Miller Sells 5,500 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 5,500 shares of the company’s stock in a transaction on 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. The trade was a 8.44% 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, April 30th, Deborah Ann Miller sold 5,500 shares of Nuvalent stock. The stock was sold at an average price of $99.22, for a total transaction of $545,710.00.

Nuvalent Trading Down 1.8%

Shares of Nuvalent stock opened at $91.35 on Wednesday. The company has a fifty day moving average price of $102.94 and a 200 day moving average price of $103.29. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $113.01. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of -15.07 and a beta of 1.15.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NUVL. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Nuvalent in a research report on Tuesday, April 21st. Wells Fargo & Company began coverage on shares of Nuvalent in a research report on Monday, March 30th. They set an “overweight” rating and a $116.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Nuvalent in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Nuvalent in a research report on Thursday, May 21st. They issued an “outperform” rating and a $189.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.29.

Hedge Funds Weigh In On Nuvalent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NUVL. GAMMA Investing LLC boosted its position in Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Nuvalent by 141.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after buying an additional 195 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Nuvalent in the 3rd quarter valued at about $38,000. NBC Securities Inc. purchased a new position in Nuvalent in the 4th quarter valued at about $125,000. Finally, KBC Group NV boosted its position 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 buying an additional 297 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.