Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $137.25.

A number of equities research analysts have issued reports on NUVL shares. Wells Fargo & Company started coverage on shares of Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 target price for the company. Cantor Fitzgerald lifted their target price on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Nuvalent in a research note on Wednesday, April 8th. HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Nuvalent in a research note on Tuesday, April 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st.

Nuvalent Stock Down 1.9%

Shares of NASDAQ:NUVL opened at $102.54 on Wednesday. The firm has a fifty day moving average of $101.98 and a two-hundred day moving average of $102.53. The firm has a market capitalization of $8.06 billion, a P/E ratio of -16.92 and a beta of 1.15. Nuvalent has a 12-month low of $68.64 and a 12-month high of $113.01.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter in the prior year, the business earned ($1.18) EPS. Equities research analysts expect that Nuvalent will post -5.82 earnings per share for the current fiscal year.

Insider Activity at Nuvalent

In other news, insider Henry E. Pelish sold 3,093 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total transaction of $323,156.64. Following the transaction, the insider owned 65,604 shares in the company, valued at approximately $6,854,305.92. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Richard Porter sold 30,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the transaction, the chief executive officer owned 324,879 shares in the company, valued at $33,036,945.51. This represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 80,023 shares of company stock worth $8,235,217. Corporate insiders own 5.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Nuvalent by 47.6% during the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Nuvalent during the 3rd quarter valued at $38,000. Eastern Bank bought a new position in shares of Nuvalent during the 3rd quarter valued at $52,000. NBC Securities Inc. bought a new position in shares of Nuvalent during the 4th quarter valued at $125,000. Finally, KBC Group NV raised its holdings in shares of Nuvalent by 24.1% during the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

About Nuvalent

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.