Nebula Research & Development LLC Boosts Holdings in Nuvalent, Inc. (NASDAQ:NUVL)

Nebula Research & Development LLC increased its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,718 shares of the company’s stock after buying an additional 2,218 shares during the period. Nebula Research & Development LLC’s holdings in Nuvalent were worth $1,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Crowley Wealth Management Inc. bought a new position in shares of Nuvalent in the 4th quarter worth approximately $27,000. US Bancorp DE bought a new position in Nuvalent in the fourth quarter worth $90,000. KBC Group NV lifted its position in Nuvalent by 61.1% during the fourth quarter. KBC Group NV now owns 1,587 shares of the company’s stock valued at $124,000 after buying an additional 602 shares during the period. Commonwealth Equity Services LLC lifted its position in Nuvalent by 13.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock valued at $205,000 after buying an additional 309 shares during the period. Finally, Diametric Capital LP bought a new stake in shares of Nuvalent during the 4th quarter valued at $212,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Nuvalent in a research note on Monday, March 3rd. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of Nuvalent in a research note on Monday, January 13th. Finally, UBS Group upgraded Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Nuvalent Price Performance

Shares of NASDAQ:NUVL opened at $73.48 on Friday. Nuvalent, Inc. has a 1 year low of $55.54 and a 1 year high of $113.51. The company has a market cap of $5.26 billion, a P/E ratio of -21.18 and a beta of 1.43. The stock’s fifty day moving average price is $72.06 and its 200-day moving average price is $82.53.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, February 27th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). On average, sell-side analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Insiders Place Their Bets

In other Nuvalent news, Director Matthew Shair sold 2,000 shares of the firm’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 in the company, valued at approximately $16,981,820.46. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Richard Porter sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $68.94, for a total transaction of $1,861,380.00. Following the completion of the transaction, the chief executive officer now owns 249,062 shares of the company’s stock, valued at approximately $17,170,334.28. The trade was a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,000 shares of company stock worth $6,350,730. Company insiders own 12.52% of the company’s stock.

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.