Janus Henderson Group PLC Sells 261,795 Shares of Nuvalent, Inc. $NUVL

Janus Henderson Group PLC trimmed its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 17.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,237,779 shares of the company’s stock after selling 261,795 shares during the quarter. Janus Henderson Group PLC’s holdings in Nuvalent were worth $126,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares during the last quarter. NBC Securities Inc. acquired a new stake in Nuvalent in the 4th quarter worth $125,000. KBC Group NV grew its position in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after purchasing an additional 297 shares during the last quarter. US Bancorp DE increased its holdings in shares of Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after purchasing an additional 188 shares during the period. Finally, Portland Investment Counsel Inc. acquired a new position in shares of Nuvalent during the fourth quarter valued at about $201,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, insider Henry E. Pelish sold 2,111 shares of Nuvalent stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $123.81, for a total transaction of $261,362.91. Following the sale, the insider directly owned 63,493 shares of the company’s stock, valued at approximately $7,861,068.33. The trade was a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total value of $1,412,519.40. Following the sale, the chief financial officer directly owned 85,533 shares in the company, valued at $10,570,168.14. The trade was a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,471 shares of company stock worth $12,813,229 in the last three months. 5.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NUVL shares. Raymond James Financial cut shares of Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Barclays restated an “equal weight” rating and set a $124.00 price target (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. TD Cowen cut Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Lifesci Capital downgraded Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price objective for the company. in a research report on Tuesday, June 9th. Finally, Piper Sandler lowered Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 price objective on the stock. in a report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $127.73.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $123.96 on Friday. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.99. The firm has a market capitalization of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. The company’s fifty day moving average price is $118.13 and its two-hundred day moving average price is $108.10.

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

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.