Nuvalent, Inc. $NUVL Holdings Boosted by Sei Investments Co.

Sei Investments Co. raised its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 27.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,540 shares of the company’s stock after acquiring an additional 6,380 shares during the period. Sei Investments Co.’s holdings in Nuvalent were worth $3,026,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after purchasing an additional 639,264 shares during the last quarter. Wellington Management Group LLP grew its stake in Nuvalent by 7.0% during the 4th quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company’s stock worth $247,635,000 after buying an additional 160,958 shares during the last quarter. JPMorgan Chase & Co. increased its position in Nuvalent by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after buying an additional 545,542 shares during the period. Price T Rowe Associates Inc. MD increased its position in Nuvalent by 18.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company’s stock worth $215,962,000 after buying an additional 336,518 shares during the period. Finally, RA Capital Management L.P. lifted its stake in Nuvalent by 50.8% in the fourth quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company’s stock valued at $189,115,000 after buying an additional 633,601 shares during the last quarter. 97.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NUVL has been the subject of several recent research reports. Raymond James Financial lowered shares of Nuvalent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 9th. Cantor Fitzgerald lowered shares of Nuvalent from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Truist Financial lowered shares of Nuvalent from a “buy” rating to a “hold” rating and dropped their price target for the company from $140.00 to $124.00 in a research note on Tuesday, June 9th. Finally, Wedbush cut Nuvalent from an “outperform” rating to a “neutral” rating and cut their price target for the company from $125.00 to $124.00 in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $127.73.

Insider Transactions at Nuvalent

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. This represents a 11.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Richard Porter sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $123.72, for a total transaction of $3,711,600.00. Following the transaction, the chief executive officer owned 324,879 shares of the company’s stock, valued at approximately $40,194,029.88. This trade represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 90,471 shares of company stock worth $9,762,529. Corporate insiders own 5.02% of the company’s stock.

Nuvalent Price Performance

Shares of NUVL opened at $123.96 on Friday. The firm has a market capitalization of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. The firm has a 50-day moving average price of $119.84 and a 200 day moving average price of $108.81. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.99.

Nuvalent (NASDAQ:NUVL) last posted 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 quarter last year, the business posted ($1.18) EPS. On average, equities analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current 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.