Nuvalent (NASDAQ:NUVL) Insider Sells $323,156.64 in Stock
by Teresa Graham · The Cerbat GemNuvalent, Inc. (NASDAQ:NUVL – Get Free Report) insider Henry Pelish sold 3,093 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $104.48, for a total transaction of $323,156.64. Following the transaction, the insider directly owned 65,604 shares of the company’s stock, valued at $6,854,305.92. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Nuvalent Stock Performance
Shares of NUVL traded up $0.95 during midday trading on Monday, hitting $103.69. 321,753 shares of the company traded hands, compared to its average volume of 560,479. The firm has a 50 day moving average of $101.43 and a 200-day moving average of $100.10. Nuvalent, Inc. has a 52 week low of $63.56 and a 52 week high of $113.01. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of -17.72 and a beta of 1.31.
Analysts Set New Price Targets
A number of research analysts recently commented on NUVL shares. Cantor Fitzgerald increased their price target on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Wells Fargo & Company started coverage on shares of Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Thursday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Nuvalent in a report on Wednesday, April 8th. Finally, UBS Group reaffirmed a “buy” rating on shares of Nuvalent in a report on Wednesday, December 17th. Sixteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.25.
Get Our Latest Stock Report on NUVL
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. bought a new stake in Nuvalent in the third quarter worth about $107,794,000. Wellington Management Group LLP lifted 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 worth $198,979,000 after purchasing an additional 724,491 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $527,521,000 after purchasing an additional 639,264 shares during the last quarter. Norges Bank bought a new stake in Nuvalent in the fourth quarter worth about $57,763,000. Finally, JPMorgan Chase & Co. lifted its stake 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. Institutional investors own 97.26% of the company’s stock.
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.