Insider Selling: Nuvalent (NASDAQ:NUVL) CFO Sells $1,412,519.40 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the sale, the chief financial officer owned 85,533 shares of the company’s stock, valued at $10,570,168.14. This trade represents a 11.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Monday, June 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $98.69, for a total value of $1,128,026.70.

Nuvalent Stock Performance

Shares of NASDAQ NUVL traded down $0.01 during trading hours on Monday, hitting $123.72. 1,813,773 shares of the stock were exchanged, compared to its average volume of 1,352,910. Nuvalent, Inc. has a 1-year low of $71.13 and a 1-year high of $123.80. The company’s fifty day simple moving average is $109.70 and its two-hundred day simple moving average is $105.13. The company has a market cap of $9.77 billion, a PE ratio of -20.42 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last posted 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 period in the previous year, the company earned ($1.18) EPS. As a group, sell-side analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NUVL. Wells Fargo & Company restated an “equal weight” rating and set a $124.00 price objective (up from $116.00) on shares of Nuvalent in a research report on Tuesday, June 9th. HC Wainwright downgraded Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Cantor Fitzgerald downgraded Nuvalent from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. Wedbush lowered shares of Nuvalent from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $124.00 in a research note on Tuesday, June 9th. Finally, Lifesci Capital cut shares of Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.73.

Institutional Trading of Nuvalent

A number of large investors have recently bought and sold shares of NUVL. HighVista Strategies LLC boosted its holdings in Nuvalent by 84.9% in the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company’s stock valued at $8,068,000 after acquiring an additional 42,834 shares in the last quarter. Aberdeen Group plc raised its position in shares of Nuvalent by 115.4% in the 4th quarter. Aberdeen Group plc now owns 165,177 shares of the company’s stock worth $16,615,000 after acquiring an additional 88,489 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Nuvalent in the 3rd quarter valued at approximately $1,297,000. Nicholas Investment Partners LP grew its stake in Nuvalent by 29.2% in the fourth quarter. Nicholas Investment Partners LP now owns 160,483 shares of the company’s stock worth $16,143,000 after purchasing an additional 36,305 shares during the period. Finally, Rhenman & Partners Asset Management AB lifted its position in Nuvalent by 211.1% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 163,350 shares of the company’s stock valued at $16,431,000 after buying an additional 110,850 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.