350 Shares in Nuvalent, Inc. (NASDAQ:NUVL) Acquired by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. bought a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 350 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds have also recently added to or reduced their stakes in NUVL. Y Intercept Hong Kong Ltd purchased a new position in Nuvalent during the 3rd quarter worth approximately $1,255,000. Lord Abbett & CO. LLC boosted its stake in shares of Nuvalent by 29.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 308,362 shares of the company’s stock valued at $31,546,000 after buying an additional 70,157 shares during the period. Citigroup Inc. boosted its stake in shares of Nuvalent by 14.9% during the 3rd quarter. Citigroup Inc. now owns 94,534 shares of the company’s stock valued at $9,671,000 after buying an additional 12,256 shares during the period. Barclays PLC boosted its stake in shares of Nuvalent by 149.0% during the 3rd quarter. Barclays PLC now owns 68,107 shares of the company’s stock valued at $6,968,000 after buying an additional 40,754 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Nuvalent by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,709 shares of the company’s stock valued at $3,551,000 after purchasing an additional 2,664 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Transactions at Nuvalent

In other news, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction on Monday, January 27th. The shares were sold at an average price of $82.79, for a total transaction of $165,580.00. Following the transaction, the director now directly owns 218,522 shares of the company’s stock, valued at $18,091,436.38. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction on Monday, March 17th. The stock was sold at an average price of $75.87, for a total transaction of $2,048,490.00. Following the transaction, the chief executive officer now directly owns 249,062 shares in the company, valued at approximately $18,896,333.94. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,800 shares of company stock worth $8,437,464. Corporate insiders own 12.52% of the company’s stock.

Nuvalent Trading Up 0.4 %

Shares of Nuvalent stock opened at $77.96 on Monday. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of -22.47 and a beta of 1.42. Nuvalent, Inc. has a 1-year low of $61.80 and a 1-year high of $113.51. The firm’s 50-day moving average price is $78.56 and its two-hundred day moving average price is $87.71.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, February 27th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). As a group, equities research analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current year.

Wall Street Analyst Weigh In

NUVL has been the subject of several analyst reports. UBS Group raised shares of Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, March 14th. HC Wainwright restated a “buy” rating and set a $110.00 price objective on shares of Nuvalent in a report on Monday, March 3rd. Finally, Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Nuvalent in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.10.

Nuvalent Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.