TD Asset Management Inc Buys 43,776 Shares of Nuvalent, Inc. $NUVL

TD Asset Management Inc grew its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 39.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,360 shares of the company’s stock after purchasing an additional 43,776 shares during the quarter. TD Asset Management Inc owned approximately 0.21% of Nuvalent worth $15,426,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NUVL. GAMMA Investing LLC raised its position in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after purchasing an additional 108 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Nuvalent during the third quarter worth about $38,000. NBC Securities Inc. bought a new position in Nuvalent during the fourth quarter worth about $125,000. KBC Group NV increased its position in Nuvalent by 24.1% during the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after acquiring an additional 297 shares during the period. Finally, Compass Wealth Management LLC bought a new position in Nuvalent during the third quarter worth about $172,000. 97.26% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Henry E. Pelish sold 3,093 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total value of $323,156.64. Following the sale, the insider directly owned 65,604 shares in the company, valued at approximately $6,854,305.92. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’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 transaction of $593,120.00. Following the completion of the sale, the insider owned 59,634 shares in the company, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 96,953 shares of company stock valued at $9,956,364. Corporate insiders own 5.02% of the company’s stock.

Nuvalent Stock Down 2.7%

Shares of Nuvalent stock opened at $88.49 on Tuesday. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -14.60 and a beta of 1.15. Nuvalent, Inc. has a 12-month low of $71.13 and a 12-month high of $113.01. The firm’s 50-day moving average price is $102.38 and its two-hundred day moving average price is $102.97.

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 period in the previous year, the business posted ($1.18) EPS. On average, sell-side analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NUVL shares. Sanford C. Bernstein started coverage on shares of Nuvalent in a research report on Thursday, May 21st. They set an “outperform” rating and a $189.00 price target on the stock. Wells Fargo & Company started coverage on shares of Nuvalent in a research report on Monday, March 30th. They set an “overweight” rating and a $116.00 price target on the stock. Leerink Partners set a $165.00 price target on shares of Nuvalent in a research report on Wednesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Nuvalent in a research report on Tuesday, June 2nd. Finally, HC Wainwright restated a “buy” rating and set a $155.00 price objective on shares of Nuvalent in a research note on Tuesday, April 21st. One equities 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’s stock. According to MarketBeat, Nuvalent currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.24.

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.