Nuvalent (NASDAQ:NUVL) Reaches New 52-Week Low – Should You Sell?

Nuvalent, Inc. (NASDAQ:NUVL) shares hit a new 52-week low during trading on Monday . The stock traded as low as $59.82 and last traded at $60.93, with a volume of 25068 shares traded. The stock had previously closed at $65.74.

Wall Street Analyst Weigh In

NUVL has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $110.00 target price on shares of Nuvalent in a report on Monday, March 3rd. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a research note on Monday, January 13th. Finally, UBS Group raised Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $113.44.

Nuvalent Stock Down 8.3 %

The firm’s 50-day simple moving average is $75.97 and its 200-day simple moving average is $85.46. The firm has a market capitalization of $4.25 billion, a PE ratio of -17.10 and a beta of 1.43.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). On average, equities research analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Insider Activity at Nuvalent

In other Nuvalent news, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $78.43, for a total transaction of $156,860.00. Following the sale, the director now owns 216,522 shares of the company’s stock, valued at approximately $16,981,820.46. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $75.99, for a total transaction of $2,051,730.00. Following the completion of the sale, the chief executive officer now owns 249,062 shares in the company, valued at $18,926,221.38. The trade was a 9.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,000 shares of company stock worth $6,541,080. Insiders own 12.52% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

Several institutional investors have recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Nuvalent during the 4th quarter worth $27,000. Quarry LP acquired a new position in Nuvalent during the fourth quarter worth $39,000. US Bancorp DE acquired a new position in Nuvalent in the 4th quarter valued at about $90,000. GF Fund Management CO. LTD. acquired a new position in shares of Nuvalent in the fourth quarter valued at approximately $108,000. Finally, KBC Group NV increased its position in shares of Nuvalent by 61.1% during the fourth quarter. KBC Group NV now owns 1,587 shares of the company’s stock worth $124,000 after acquiring an additional 602 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.