Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Recommendation of “Hold” from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has been assigned an average recommendation of “Hold” from the twenty analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $127.7289.

Several equities research analysts have commented on the stock. Canaccord Genuity Group lowered shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $124.00 price objective (up from $116.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Raymond James Financial lowered shares of Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Guggenheim lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $151.00 to $124.00 in a research note on Wednesday, June 10th. Finally, Sanford C. Bernstein downgraded shares of Nuvalent from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $172.00 to $124.00 in a research report on Wednesday, June 24th.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $123.51 on Thursday. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of -20.38 and a beta of 1.15. Nuvalent has a 52 week low of $71.13 and a 52 week high of $123.69. The firm has a 50-day moving average price of $108.44 and a two-hundred day moving average price of $104.62.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm posted ($1.18) EPS. As a group, sell-side analysts forecast that Nuvalent will post -5.74 earnings per share for the current year.

Insider Activity at Nuvalent

In other news, CEO James Richard Porter sold 30,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $88.53, for a total transaction of $2,655,900.00. Following the completion of the transaction, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at $28,761,537.87. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the transaction, the insider directly owned 59,634 shares of the company’s stock, valued at $6,430,930.56. This represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 126,953 shares of company stock valued at $12,612,264 over the last quarter. 5.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NUVL. AQR Capital Management LLC grew its position in shares of Nuvalent by 64.8% during the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after acquiring an additional 3,881 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Nuvalent by 54.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after acquiring an additional 159,873 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Nuvalent by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock worth $10,634,000 after buying an additional 12,123 shares during the period. Intech Investment Management LLC boosted its holdings in Nuvalent by 28.7% in the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock worth $1,366,000 after buying an additional 4,293 shares during the period. Finally, Prudential Financial Inc. bought a new position in Nuvalent in the 2nd quarter worth approximately $412,000. 97.26% of the stock is owned by 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.