Walleye Capital LLC Acquires 33,917 Shares of Nuvalent, Inc. $NUVL

Walleye Capital LLC raised its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 426.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 41,873 shares of the company’s stock after acquiring an additional 33,917 shares during the quarter. Walleye Capital LLC’s holdings in Nuvalent were worth $4,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. NBC Securities Inc. bought a new stake in Nuvalent during the fourth quarter worth about $125,000. KBC Group NV raised its holdings in Nuvalent by 24.1% during the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after acquiring an additional 297 shares in the last quarter. US Bancorp DE boosted its position in Nuvalent by 10.0% during the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after purchasing an additional 188 shares during the last quarter. Finally, Portland Investment Counsel Inc. bought a new position in Nuvalent in the fourth quarter valued at approximately $201,000. 97.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Henry E. Pelish sold 2,111 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $123.81, for a total value of $261,362.91. Following the sale, the insider owned 63,493 shares in the company, valued at approximately $7,861,068.33. This represents a 3.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on 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 transaction, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 125,971 shares of company stock worth $13,358,939 in the last quarter. Insiders own 5.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Nuvalent to a “sell” rating in a research note on Saturday, July 18th. Piper Sandler cut shares of Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 target price for the company. in a research note on Tuesday, June 9th. Robert W. Baird set a $122.85 target price on shares of Nuvalent in a report on Tuesday, June 9th. Canaccord Genuity Group lowered shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Wedbush cut shares of 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 research note on Tuesday, June 9th. Four investment 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. According to data from MarketBeat.com, Nuvalent presently has an average rating of “Hold” and a consensus target price of $127.73.

Nuvalent Price Performance

Shares of NASDAQ NUVL opened at $123.96 on Thursday. The business’s 50 day moving average price is $115.04 and its two-hundred day moving average price is $107.05. The company has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $123.99.

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