Nuvalent, Inc. $NUVL Shares Bought by Voya Investment Management LLC

by · The Cerbat Gem

Voya Investment Management LLC lifted its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL – Free Report) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,742 shares of the company’s stock after purchasing an additional 11,523 shares during the quarter. Voya Investment Management LLC owned about 0.19% of Nuvalent worth $11,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUVL. Kennedy Capital Management LLC boosted its position in shares of Nuvalent by 3.7% in the 2nd quarter. Kennedy Capital Management LLC now owns 5,504 shares of the company’s stock valued at $420,000 after purchasing an additional 196 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Nuvalent by 2.7% during the 2nd quarter. Guggenheim Capital LLC now owns 10,863 shares of the company’s stock valued at $829,000 after buying an additional 288 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Nuvalent by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,564 shares of the company’s stock worth $196,000 after acquiring an additional 350 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Nuvalent by 38.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,632 shares of the company’s stock worth $125,000 after purchasing an additional 451 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Nuvalent by 10.4% during the 2nd quarter. Sei Investments Co. now owns 5,930 shares of the company’s stock worth $453,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Up 1.8%

Nuvalent stock opened at $105.72 on Tuesday. The business has a 50 day moving average price of $100.70 and a two-hundred day moving average price of $86.85. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $112.88. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of -19.87 and a beta of 1.31.

Nuvalent (NASDAQ:NUVL – Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same quarter last year, the business posted ($1.28) earnings per share. On average, analysts expect that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Insider Activity at Nuvalent

In other Nuvalent news, Director James E. Flynn sold 742,574 shares of Nuvalent stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $95.44, for a total transaction of $70,871,262.56. Following the sale, the director directly owned 8,299,225 shares of the company’s stock, valued at approximately $792,078,034. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $90.63, for a total value of $2,447,010.00. Following the completion of the transaction, the chief executive officer directly owned 249,062 shares of the company’s stock, valued at approximately $22,572,489.06. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,017,433 shares of company stock worth $97,251,364 in the last ninety days. Company insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NUVL shares. Piper Sandler boosted their target price on Nuvalent from $112.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Stifel Nicolaus upped their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Cantor Fitzgerald assumed coverage on shares of Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 target price on the stock. Wedbush restated an “outperform” rating and set a $125.00 price target (up from $120.00) on shares of Nuvalent in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nuvalent presently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Check Out Our Latest Analysis on Nuvalent

Nuvalent Company Profile

(Free Report)

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.

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