Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director Matthew Shair sold 37,500 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $76.77, for a total value of $2,878,875.00. Following the completion of the sale, the director now owns 1,687,198 shares of the company's stock, valued at approximately $129,526,190.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Matthew Shair also recently made the following trade(s):
- On Thursday, December 28th, Matthew Shair sold 48,548 shares of Nuvalent stock. The shares were sold at an average price of $75.46, for a total value of $3,663,432.08.
Nuvalent Trading Up 1.2 %
Shares of NUVL stock opened at $76.64 on Thursday. Nuvalent, Inc. has a 1 year low of $23.09 and a 1 year high of $89.39. The business's fifty day moving average is $81.09 and its 200-day moving average is $68.02.
Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.02). As a group, sell-side analysts expect that Nuvalent, Inc. will post -2.96 earnings per share for the current fiscal year.
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A number of equities research analysts have weighed in on NUVL shares. Guggenheim started coverage on Nuvalent in a research note on Wednesday, February 28th. They set a "buy" rating and a $99.00 price objective for the company. Wedbush restated an "outperform" rating and set a $99.00 price objective on shares of Nuvalent in a research note on Tuesday, February 27th. Leerink Partnrs restated a "market perform" rating on shares of Nuvalent in a research note on Thursday, February 22nd. JPMorgan Chase & Co. raised their price objective on Nuvalent from $68.00 to $98.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets raised their price objective on Nuvalent from $93.00 to $102.00 and gave the company an "outperform" rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.50.
Check Out Our Latest Stock Analysis on NUVL
Institutional Trading of Nuvalent
Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of Nuvalent by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 9,774 shares of the company's stock worth $719,000 after buying an additional 139 shares during the period. Tower Research Capital LLC TRC boosted its position in Nuvalent by 41.0% during the third quarter. Tower Research Capital LLC TRC now owns 643 shares of the company's stock valued at $30,000 after purchasing an additional 187 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Nuvalent by 3.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 7,020 shares of the company's stock valued at $323,000 after purchasing an additional 210 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of Nuvalent by 22.8% in the second quarter. Metropolitan Life Insurance Co NY now owns 1,325 shares of the company's stock worth $56,000 after purchasing an additional 246 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Nuvalent by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 5,846 shares of the company's stock worth $269,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.
Nuvalent Company Profile
(
Get Free Report)
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.
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