Insider Selling: Nuvalent, Inc. (NASDAQ:NUVL) Director Sells $165,580.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $82.79, for a total value of $165,580.00. Following the sale, the director now owns 218,522 shares in the company, valued at approximately $18,091,436.38. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Matthew Shair also recently made the following trade(s):

• On Monday, December 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $83.78, for a total transaction of $167,560.00.
• On Monday, November 25th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $96.22, for a total transaction of $192,440.00.

Nuvalent Stock Down 2.2 %

Nuvalent stock opened at $85.81 on Friday. The firm has a fifty day simple moving average of $84.71 and a two-hundred day simple moving average of $87.71. Nuvalent, Inc. has a twelve month low of $61.79 and a twelve month high of $113.51. The company has a market capitalization of $6.10 billion, a PE ratio of -24.73 and a beta of 1.38.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Tuesday, November 12th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35). During the same quarter in the prior year, the company earned ($0.59) earnings per share. As a group, equities 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 research analysts have recently commented on NUVL shares. Wedbush restated an “outperform” rating and set a $115.00 price target on shares of Nuvalent in a research report on Monday, January 13th. BMO Capital Markets raised their price target on Nuvalent from $132.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on Nuvalent from $100.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. UBS Group initiated coverage on shares of Nuvalent in a research note on Thursday, October 24th. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Nuvalent in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.36.

Institutional Trading of Nuvalent

A number of institutional investors have recently made changes to their positions in NUVL. FMR LLC raised its holdings in Nuvalent by 8.9% during the 3rd quarter. FMR LLC now owns 9,654,352 shares of the company’s stock valued at $987,640,000 after buying an additional 786,257 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Nuvalent by 65.5% during the third quarter. Wellington Management Group LLP now owns 1,011,837 shares of the company’s stock valued at $103,511,000 after acquiring an additional 400,402 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Nuvalent by 80.5% during the second quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock worth $26,409,000 after purchasing an additional 155,276 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Nuvalent by 111.0% in the third quarter. ArrowMark Colorado Holdings LLC now owns 295,152 shares of the company’s stock worth $30,194,000 after purchasing an additional 155,261 shares during the last quarter. Finally, First Turn Management LLC increased its holdings in Nuvalent by 42.3% during the 3rd quarter. First Turn Management LLC now owns 359,114 shares of the company’s stock valued at $36,737,000 after purchasing an additional 106,838 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.