Nuvalent (NASDAQ:NUVL – Get Free Report)‘s stock had its “neutral” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $124.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 0.94% from the company’s previous close.
A number of other research firms also recently commented on NUVL. Leerink Partners set a $165.00 price objective on Nuvalent in a report on Wednesday, June 3rd. Piper Sandler cut shares of Nuvalent from an “overweight” rating to a “neutral” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Sanford C. Bernstein began coverage on shares of Nuvalent in a research note on Thursday, May 21st. They set an “outperform” rating and a $189.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Nuvalent in a research note on Monday, March 30th. They issued an “overweight” rating and a $116.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nuvalent currently has a consensus rating of “Moderate Buy” and an average price target of $138.50.
Read Our Latest Report on Nuvalent
Nuvalent Price Performance
Nuvalent (NASDAQ:NUVL – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm earned ($1.18) earnings per share. On average, sell-side analysts forecast that Nuvalent will post -5.74 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $98.69, for a total transaction of $1,128,026.70. Following the completion of the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at $8,441,251.77. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the completion of the transaction, the insider directly owned 59,634 shares in the company, valued at $6,430,930.56. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 96,953 shares of company stock worth $9,956,364 over the last three months. 5.02% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in NUVL. Vanguard Group Inc. lifted its position in Nuvalent by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after purchasing an additional 639,264 shares during the period. Wellington Management Group LLP increased its position in Nuvalent by 7.0% during the 4th quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company’s stock worth $247,635,000 after purchasing an additional 160,958 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Nuvalent by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after buying an additional 545,542 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nuvalent by 18.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company’s stock valued at $215,962,000 after buying an additional 336,518 shares during the period. Finally, RA Capital Management L.P. lifted its holdings in shares of Nuvalent by 50.8% in the 4th quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company’s stock valued at $189,115,000 after buying an additional 633,601 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Nuvalent
Here are the key news stories impacting Nuvalent this week:
- Positive Sentiment: Nuvalent agreed to be acquired by GSK for roughly $10.6 billion in cash, valuing the cancer drug developer at a substantial premium and sending the stock sharply higher. Reuters: UK’s GSK to buy US-based cancer drugmaker Nuvalent for $10.6 billion
- Positive Sentiment: The deal gives GSK ownership of three lung cancer drug candidates, including two that are already under FDA review, highlighting the value of Nuvalent’s pipeline and supporting the takeover price. WSJ: GSK to Buy Nuvalent for $10.6 Billion in Oncology Push
- Neutral Sentiment: Market commentary also notes the deal is part of GSK’s broader effort to strengthen its oncology franchise and offset future patent pressure in other businesses, which explains the strategic rationale behind the acquisition. Proactive Investors: GSK agrees $10.6bn Nuvalent takeover to bolster oncology pipeline
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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