Nuvalent (NASDAQ:NUVL) Insider Henry Pelish Sells 2,111 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Henry Pelish sold 2,111 shares of Nuvalent stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $123.81, for a total value of $261,362.91. Following the completion of the sale, the insider owned 63,493 shares in the company, valued at approximately $7,861,068.33. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nuvalent Stock Up 0.1%

Shares of NUVL traded up $0.07 during mid-day trading on Friday, hitting $123.90. 2,057,860 shares of the company’s stock traded hands, compared to its average volume of 2,176,546. Nuvalent, Inc. has a 1 year low of $71.13 and a 1 year high of $123.91. The firm has a market capitalization of $9.79 billion, a P/E ratio of -20.45 and a beta of 1.14. The business’s 50-day moving average price is $111.72 and its 200-day moving average price is $105.87.

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

Analyst Upgrades and Downgrades

NUVL has been the subject of several research analyst reports. Wedbush cut shares of Nuvalent from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $124.00 in a research 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 for the company. in a research note on Tuesday, June 9th. TD Cowen lowered shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price objective for the company. in a report on Tuesday, June 9th. Wells Fargo & Company restated an “equal weight” rating and set a $124.00 target price (up from $116.00) on shares of Nuvalent in a report on Tuesday, June 9th. Finally, Guggenheim downgraded shares of Nuvalent from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $151.00 to $124.00 in a research report on Wednesday, June 10th. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nuvalent currently has a consensus rating of “Hold” and a consensus price target of $127.73.

Institutional Trading of Nuvalent

Hedge funds have recently made changes to their positions in the stock. HighVista Strategies LLC boosted its holdings in Nuvalent by 84.9% in the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company’s stock worth $8,068,000 after acquiring an additional 42,834 shares in the last quarter. Aberdeen Group plc grew its stake in shares of Nuvalent by 115.4% in the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company’s stock worth $16,615,000 after acquiring an additional 88,489 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Nuvalent during the third quarter valued at $1,297,000. Nicholas Investment Partners LP increased its holdings in shares of Nuvalent by 29.2% during the fourth quarter. Nicholas Investment Partners LP now owns 160,483 shares of the company’s stock valued at $16,143,000 after acquiring an additional 36,305 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB raised its position in shares of Nuvalent by 211.1% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 163,350 shares of the company’s stock worth $16,431,000 after purchasing an additional 110,850 shares during the last quarter. 97.26% of the stock is owned by 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.