Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) Director Matthew Shair sold 2,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $78.43, for a total transaction of $156,860.00. Following the sale, the director now directly owns 216,522 shares of the company’s stock, valued at $16,981,820.46. This represents a 0.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Matthew Shair also recently made the following trade(s):
- On Monday, January 27th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $82.79, for a total transaction of $165,580.00.
- On Monday, December 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $83.78, for a total transaction of $167,560.00.
Nuvalent Price Performance
Shares of NASDAQ:NUVL opened at $75.89 on Wednesday. The company’s 50-day moving average price is $80.88 and its two-hundred day moving average price is $88.43. Nuvalent, Inc. has a one year low of $61.79 and a one year high of $113.51. The stock has a market capitalization of $5.39 billion, a PE ratio of -21.87 and a beta of 1.38.
Analyst Upgrades and Downgrades
View Our Latest Report on Nuvalent
Institutional Investors Weigh In On Nuvalent
Several institutional investors and hedge funds have recently added to or reduced their stakes in NUVL. Boxer Capital Management LLC bought a new stake in Nuvalent during the 4th quarter worth about $87,689,000. FMR LLC raised its holdings in shares of Nuvalent by 8.9% in the 3rd quarter. FMR LLC now owns 9,654,352 shares of the company’s stock valued at $987,640,000 after purchasing an additional 786,257 shares during the period. Vestal Point Capital LP bought a new stake in shares of Nuvalent in the 4th quarter valued at about $46,968,000. Polar Capital Holdings Plc raised its holdings in shares of Nuvalent by 161.2% in the 4th quarter. Polar Capital Holdings Plc now owns 946,723 shares of the company’s stock valued at $74,109,000 after purchasing an additional 584,223 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Nuvalent by 65.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,011,837 shares of the company’s stock valued at $103,511,000 after purchasing an additional 400,402 shares during the period. 97.26% of the stock is owned by institutional investors.
About Nuvalent
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.
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