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

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $96.22, for a total transaction of $192,440.00. Following the sale, the director now owns 222,522 shares in the company, valued at $21,411,066.84. This represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 value of $183,460.00.
• On Monday, September 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $102.75, for a total value of $205,500.00.

Nuvalent Price Performance

Shares of NUVL stock opened at $96.76 on Thursday. The stock has a market capitalization of $6.87 billion, a PE ratio of -27.88 and a beta of 1.33. The business’s 50 day simple moving average is $97.30 and its 200 day simple moving average is $84.45. Nuvalent, Inc. has a one year low of $61.01 and a one year high of $113.51.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) EPS 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) EPS. As a group, research analysts expect that Nuvalent, Inc. will post -3.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NUVL. UBS Group began coverage on Nuvalent in a research report on Thursday, October 24th. They set a “neutral” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Nuvalent from $100.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Barclays assumed coverage on shares of Nuvalent in a report on Thursday, August 29th. They set an “overweight” rating and a $100.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Guggenheim raised their target price on shares of Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.60.

Institutional Trading of Nuvalent

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank raised its position in shares of Nuvalent by 21.8% in the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock worth $84,000 after acquiring an additional 198 shares in the last quarter. HighVista Strategies LLC grew its stake in Nuvalent by 1.1% during the third quarter. HighVista Strategies LLC now owns 29,018 shares of the company’s stock worth $2,969,000 after purchasing an additional 320 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Nuvalent by 21.6% in the third 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. Quest Partners LLC acquired a new position in Nuvalent in the second quarter valued at approximately $44,000. Finally, Arizona State Retirement System boosted its holdings in shares of Nuvalent by 15.9% during the 2nd quarter. Arizona State Retirement System now owns 8,215 shares of the company’s stock worth $623,000 after buying an additional 1,127 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.