PSP Research LLC bought a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,261 shares of the company’s stock, valued at approximately $529,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Nuvalent by 47.6% during the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. US Bancorp DE grew its holdings in Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after acquiring an additional 188 shares during the last quarter. Arizona State Retirement System grew its holdings in Nuvalent by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 11,778 shares of the company’s stock worth $1,019,000 after acquiring an additional 220 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Nuvalent by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 3,290 shares of the company’s stock worth $285,000 after acquiring an additional 234 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in Nuvalent by 2.7% during the 3rd quarter. Profund Advisors LLC now owns 10,687 shares of the company’s stock worth $924,000 after acquiring an additional 279 shares during the last quarter. 97.26% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
NUVL has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Cantor Fitzgerald boosted their target price on shares of Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Nuvalent in a report on Wednesday, April 8th. Wells Fargo & Company initiated coverage on shares of Nuvalent in a report on Monday, March 30th. They set an “overweight” rating and a $116.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Nuvalent in a report on Tuesday, April 21st. Sixteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.25.
Nuvalent Stock Performance
Nuvalent stock opened at $101.00 on Wednesday. Nuvalent, Inc. has a 52-week low of $70.25 and a 52-week high of $113.01. The firm has a 50 day moving average price of $102.16 and a two-hundred day moving average price of $102.72. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -16.67 and a beta of 1.15.
Nuvalent (NASDAQ:NUVL – Get Free Report) last released its quarterly 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 period in the previous year, the company posted ($1.18) EPS. As a group, equities research analysts predict that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.
Insider Activity
In other news, CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction on Monday, May 4th. The shares were sold at an average price of $101.69, for a total value of $3,050,700.00. Following the completion of the sale, the chief executive officer owned 324,879 shares in the company, valued at $33,036,945.51. The trade was a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the completion of the sale, the chief financial officer owned 85,533 shares of the company’s stock, valued at $8,998,926.93. This represents a 11.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 80,023 shares of company stock worth $8,235,217 in the last 90 days. 5.02% of the stock is owned by company insiders.
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.
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