Quantinno Capital Management LP Grows Stock Holdings in Nuvalent, Inc. $NUVL

Quantinno Capital Management LP raised its position in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 400.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,162 shares of the company’s stock after buying an additional 12,134 shares during the quarter. Quantinno Capital Management LP’s holdings in Nuvalent were worth $1,553,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NUVL. RA Capital Management L.P. bought a new position in shares of Nuvalent during the 3rd quarter worth approximately $107,794,000. Wellington Management Group LLP boosted its stake in Nuvalent by 46.0% in the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after acquiring an additional 724,491 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nuvalent by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after acquiring an additional 639,264 shares in the last quarter. Norges Bank purchased a new position in Nuvalent in the fourth quarter worth $57,763,000. Finally, JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 545,542 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Price Performance

NASDAQ NUVL opened at $123.96 on Thursday. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. The stock’s fifty day moving average price is $121.79 and its 200 day moving average price is $109.16. Nuvalent, Inc. has a 1 year low of $71.13 and a 1 year high of $123.99.

Insider Transactions at Nuvalent

In other news, CEO James Richard Porter sold 30,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $123.72, for a total value of $3,711,600.00. Following the transaction, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at approximately $40,194,029.88. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the transaction, the chief financial officer owned 85,533 shares of the company’s stock, valued at approximately $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 a total of 90,471 shares of company stock worth $9,762,529 in the last 90 days. 5.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NUVL shares. Wall Street Zen upgraded Nuvalent to a “sell” rating in a report on Saturday, July 18th. Canaccord Genuity Group downgraded Nuvalent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Raymond James Financial lowered Nuvalent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 9th. Sanford C. Bernstein cut Nuvalent from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $172.00 to $124.00 in a research note on Wednesday, June 24th. Finally, HC Wainwright downgraded Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.73.

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.