Nuvalent (NASDAQ:NUVL) Insider Sells $251,547.24 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 2,589 shares of Nuvalent stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total transaction of $251,547.24. Following the completion of the transaction, the insider directly owned 42,134 shares in the company, valued at approximately $4,093,739.44. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, January 5th, Deborah Ann Miller sold 4,363 shares of Nuvalent stock. The shares were sold at an average price of $97.32, for a total transaction of $424,607.16.
• On Monday, November 17th, Deborah Ann Miller sold 24,200 shares of Nuvalent stock. The stock was sold at an average price of $105.50, for a total transaction of $2,553,100.00.
• On Thursday, October 30th, Deborah Ann Miller sold 21,800 shares of Nuvalent stock. The shares were sold at an average price of $103.16, for a total transaction of $2,248,888.00.
• On Monday, October 20th, Deborah Ann Miller sold 5,000 shares of Nuvalent stock. The shares were sold at an average price of $94.91, for a total value of $474,550.00.
• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The stock was 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 Trading Up 2.3%

Shares of Nuvalent stock opened at $105.05 on Friday. Nuvalent, Inc. has a 1 year low of $55.53 and a 1 year high of $112.88. The company has a market cap of $7.64 billion, a P/E ratio of -19.75 and a beta of 1.32. The stock has a 50-day moving average price of $102.85 and a 200 day moving average price of $89.21.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same quarter in the prior year, the business posted ($1.28) earnings per share. On average, equities analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of Nuvalent by 7.9% in the 4th quarter. SG Americas Securities LLC now owns 20,326 shares of the company’s stock valued at $2,045,000 after acquiring an additional 1,490 shares in the last quarter. GAMMA Investing LLC boosted its position in Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after purchasing an additional 108 shares during the period. Hudson Bay Capital Management LP acquired a new position in Nuvalent during the third quarter valued at approximately $1,297,000. Cantor Fitzgerald L. P. acquired a new position in Nuvalent during the third quarter valued at approximately $1,946,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Nuvalent in the third quarter valued at approximately $396,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays set a $152.00 price target on shares of Nuvalent in a report on Monday, November 17th. Wedbush restated an “outperform” rating and issued a $125.00 target price (up previously from $120.00) on shares of Nuvalent in a research note on Monday, November 17th. Piper Sandler raised their price target on Nuvalent from $112.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group lifted their price target on Nuvalent from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Truist Financial set a $140.00 price objective on Nuvalent in a report on Monday, November 24th. Fifteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nuvalent has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Nuvalent Company Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.