Nebula Research & Development LLC Acquires 2,218 Shares of Nuvalent, Inc. (NASDAQ:NUVL)

Nebula Research & Development LLC grew its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,718 shares of the company’s stock after buying an additional 2,218 shares during the period. Nebula Research & Development LLC’s holdings in Nuvalent were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NUVL. Vanguard Group Inc. grew its holdings in Nuvalent by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 4,499,864 shares of the company’s stock valued at $352,249,000 after buying an additional 366,239 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Nuvalent by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,297,910 shares of the company’s stock worth $101,601,000 after purchasing an additional 215,633 shares during the last quarter. Wellington Management Group LLP raised its stake in Nuvalent by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 1,284,575 shares of the company’s stock valued at $100,557,000 after purchasing an additional 272,738 shares in the last quarter. Geode Capital Management LLC lifted its position in Nuvalent by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 871,488 shares of the company’s stock valued at $68,236,000 after purchasing an additional 15,878 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Nuvalent by 142.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $53,230,000 after buying an additional 400,000 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Down 0.7 %

NUVL stock opened at $73.48 on Friday. Nuvalent, Inc. has a twelve month low of $55.54 and a twelve month high of $113.51. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -21.18 and a beta of 1.43. The business’s fifty day simple moving average is $72.06 and its two-hundred day simple moving average is $82.53.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Research analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NUVL. UBS Group upgraded shares of Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Friday, March 14th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Nuvalent in a research note on Monday, March 3rd. Finally, Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling

In related news, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $82.79, for a total value of $165,580.00. Following the completion of the transaction, the director now owns 218,522 shares of the company’s stock, valued at $18,091,436.38. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.46, for a total value of $2,118,420.00. Following the sale, the chief executive officer now directly owns 249,062 shares in the company, valued at $19,541,404.52. This trade represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,000 shares of company stock valued at $6,350,730 over the last quarter. 12.52% of the stock is owned by corporate insiders.

Nuvalent Company Profile

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 novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 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 expected to initiate phase 1 trial.