Commodore Capital LP Sells 850,000 Shares of Nuvalent, Inc. $NUVL

Commodore Capital LP lessened its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 60.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 550,000 shares of the company’s stock after selling 850,000 shares during the period. Nuvalent comprises approximately 3.7% of Commodore Capital LP’s investment portfolio, making the stock its 13th largest holding. Commodore Capital LP owned 0.76% of Nuvalent worth $55,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NUVL. GAMMA Investing LLC raised its stake in Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Nuvalent in the third quarter valued at approximately $38,000. NBC Securities Inc. bought a new stake in Nuvalent in the fourth quarter valued at approximately $125,000. KBC Group NV raised its stake in Nuvalent by 24.1% in the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after buying an additional 297 shares during the period. Finally, Compass Wealth Management LLC bought a new stake in Nuvalent in the third quarter valued at approximately $172,000. Institutional investors own 97.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Henry E. Pelish sold 3,093 shares of Nuvalent stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $104.48, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction on Monday, June 8th. The shares were sold at an average price of $88.53, for a total value of $2,655,900.00. Following the completion of the transaction, the chief executive officer owned 324,879 shares in the company, valued at approximately $28,761,537.87. The trade was a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 126,953 shares of company stock worth $12,612,264. 5.02% of the stock is currently owned by company insiders.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $123.36 on Thursday. The stock has a fifty day moving average price of $105.32 and a 200-day moving average price of $103.71. The company has a market cap of $9.75 billion, a price-to-earnings ratio of -20.36 and a beta of 1.15. Nuvalent, Inc. has a fifty-two week low of $71.13 and a fifty-two week high of $123.62.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter in the previous year, the company posted ($1.18) earnings per share. Research analysts predict that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NUVL shares. Leerink Partners set a $165.00 price objective on Nuvalent in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. Barclays restated an “equal weight” rating and issued a $124.00 price objective (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Canaccord Genuity Group lowered Nuvalent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, HC Wainwright lowered Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price objective on the stock. in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $131.15.

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.