Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 5,000 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 5,000 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $94.91, for a total value of $474,550.00. Following the completion of the transaction, the insider directly owned 49,086 shares in the company, valued at $4,658,752.26. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The shares were sold at an average price of $91.66, for a total value of $1,134,384.16.
• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The shares were sold at an average price of $89.98, for a total value of $1,405,847.52.

Nuvalent Price Performance

NASDAQ:NUVL opened at $90.88 on Thursday. The firm has a market capitalization of $6.55 billion, a PE ratio of -18.55 and a beta of 1.30. The business’s fifty day moving average price is $81.44 and its 200 day moving average price is $77.49. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $99.94.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same quarter in the previous year, the firm earned ($0.88) earnings per share. As a group, equities analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Institutional Investors Weigh In On Nuvalent

Several hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC boosted its stake in shares of Nuvalent by 9.4% during the third quarter. Voya Investment Management LLC now owns 134,742 shares of the company’s stock worth $11,652,000 after buying an additional 11,523 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Nuvalent during the second quarter worth about $329,000. Tower Research Capital LLC TRC boosted its stake in shares of Nuvalent by 23.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the company’s stock worth $240,000 after buying an additional 588 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of Nuvalent by 12.9% during the second quarter. E Fund Management Co. Ltd. now owns 5,401 shares of the company’s stock worth $412,000 after buying an additional 616 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Nuvalent by 130.7% during the second quarter. BNP Paribas Financial Markets now owns 135,613 shares of the company’s stock worth $10,347,000 after buying an additional 76,834 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Nuvalent in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price objective for the company. Robert W. Baird upped their price objective on shares of Nuvalent from $105.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Raymond James Financial assumed coverage on shares of Nuvalent in a research note on Tuesday, September 2nd. They issued an “outperform” rating and a $105.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Nuvalent in a research note on Thursday, October 16th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Nuvalent to a “strong-buy” rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nuvalent has a consensus rating of “Moderate Buy” and an average price target of $120.00.

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.