Deborah Ann Miller Sells 2,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $47.64, for a total transaction of $95,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Deborah Ann Miller also recently made the following trade(s):

• On Monday, July 17th, Deborah Ann Miller sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $43.06, for a total value of $86,120.00.

Nuvalent Price Performance

NASDAQ:NUVL traded down $0.43 during trading hours on Tuesday, hitting $44.05. 462,463 shares of the company traded hands, compared to its average volume of 277,257. Nuvalent, Inc. has a twelve month low of $15.56 and a twelve month high of $50.58. The firm has a 50-day moving average of $44.86 and a 200 day moving average of $38.96.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.04. Analysts anticipate that Nuvalent, Inc. will post -2.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. SVB Leerink assumed coverage on Nuvalent in a report on Tuesday, August 8th. They issued a “market perform” rating and a $42.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $53.00 price target on shares of Nuvalent in a research report on Monday, September 11th. Guggenheim began coverage on Nuvalent in a report on Monday, July 24th. They set a “buy” rating and a $56.00 price objective on the stock. SVB Securities initiated coverage on shares of Nuvalent in a report on Tuesday, August 8th. They issued a “market perform” rating and a $42.00 target price for the company. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Nuvalent in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of Nuvalent by 13.0% in the 1st quarter. JPMorgan Chase & Co. now owns 442,575 shares of the company’s stock valued at $6,147,000 after purchasing an additional 50,930 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Nuvalent by 57.8% in the first quarter. Bank of New York Mellon Corp now owns 45,656 shares of the company’s stock valued at $634,000 after buying an additional 16,726 shares in the last quarter. MetLife Investment Management LLC grew its stake in Nuvalent by 196.6% during the first quarter. MetLife Investment Management LLC now owns 12,959 shares of the company’s stock worth $180,000 after buying an additional 8,590 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Nuvalent during the first quarter worth approximately $211,000. Finally, BlackRock Inc. raised its stake in shares of Nuvalent by 30.2% in the first quarter. BlackRock Inc. now owns 1,257,463 shares of the company’s stock valued at $17,466,000 after acquiring an additional 291,821 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

About Nuvalent

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a brain-penetrant ROS1-selective inhibitor to inhibit ROS1 fusions that express the normal ROS1 kinase domain without any drug-resistant mutations and remain active in the presence of mutations conferring resistance to approved and investigational ROS1 inhibitors, which is under Phase I development; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, central nervous system-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under Phase ½ clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is ongoing IND-enabling studies.