Nuvalent, Inc. (NASDAQ:NUVL) Director Sells $192,440.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction on Monday, November 25th. The shares were sold at an average price of $96.22, for a total transaction of $192,440.00. Following the completion of the transaction, the director now owns 222,522 shares in the company, valued at approximately $21,411,066.84. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 28th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $91.73, for a total transaction of $183,460.00.
• On Monday, September 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $102.75, for a total transaction of $205,500.00.

Nuvalent Stock Up 0.5 %

Shares of NASDAQ:NUVL traded up $0.46 during trading on Wednesday, reaching $96.76. 179,440 shares of the company traded hands, compared to its average volume of 437,671. The company’s 50 day moving average is $97.30 and its two-hundred day moving average is $84.45. The firm has a market capitalization of $6.87 billion, a PE ratio of -28.01 and a beta of 1.33. Nuvalent, Inc. has a 52 week low of $61.01 and a 52 week high of $113.51.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.35). During the same period last year, the company posted ($0.59) earnings per share. As a group, research analysts anticipate that Nuvalent, Inc. will post -3.84 EPS for the current year.

Analyst Ratings Changes

NUVL has been the subject of several research analyst reports. UBS Group assumed coverage on shares of Nuvalent in a report on Thursday, October 24th. They issued a “neutral” rating and a $100.00 price objective for the company. BMO Capital Markets upped their target price on Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised Nuvalent to a “strong sell” rating in a research report on Monday, September 16th. Barclays began coverage on Nuvalent in a research report on Thursday, August 29th. They issued an “overweight” rating and a $100.00 target price for the company. Finally, Stifel Nicolaus increased their price objective on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nuvalent presently has an average rating of “Moderate Buy” and a consensus target price of $112.60.

Institutional Investors Weigh In On Nuvalent

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Nuvalent during the second quarter valued at approximately $44,000. Amalgamated Bank increased its holdings in shares of Nuvalent by 21.8% in the second quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock worth $84,000 after buying an additional 198 shares during the period. Mount Yale Investment Advisors LLC purchased a new position in shares of Nuvalent in the first quarter worth about $202,000. Portland Investment Counsel Inc. purchased a new position in Nuvalent during the 3rd quarter valued at about $205,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Nuvalent by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,147 shares of the company’s stock worth $213,000 after purchasing an additional 382 shares in the last quarter. 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.