Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) insider Henry Pelish sold 2,111 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $123.81, for a total value of $261,362.91. Following the completion of the sale, the insider owned 63,493 shares of the company’s stock, valued at $7,861,068.33. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nuvalent Price Performance
Nuvalent stock traded up $0.07 during trading on Friday, reaching $123.90. 2,057,457 shares of the company were exchanged, compared to its average volume of 1,360,067. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.91. The company has a market capitalization of $9.79 billion, a P/E ratio of -20.45 and a beta of 1.14. The stock’s 50 day simple moving average is $111.23 and its two-hundred day simple moving average is $105.74.
Nuvalent (NASDAQ:NUVL – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the prior year, the firm posted ($1.18) earnings per share. As a group, equities analysts forecast that Nuvalent, Inc. will post -5.74 earnings per share for the current year.
Hedge Funds Weigh In On Nuvalent
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NUVL. Canaccord Genuity Group downgraded shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Guggenheim lowered Nuvalent from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $151.00 to $124.00 in a research report on Wednesday, June 10th. Stifel Nicolaus set a $124.00 target price on Nuvalent in a research report on Tuesday, June 9th. Leerink Partners set a $165.00 price target on Nuvalent in a report on Wednesday, June 3rd. Finally, Wedbush lowered shares of Nuvalent from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $124.00 in a report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $127.73.
Check Out Our Latest Stock Analysis on Nuvalent
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.
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