Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director Matthew Shair sold 37,500 shares of the business's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $68.44, for a total value of $2,566,500.00. Following the transaction, the director now directly owns 1,612,198 shares of the company's stock, valued at approximately $110,338,831.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Matthew Shair also recently made the following trade(s):
- On Monday, April 1st, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $76.92, for a total value of $2,884,500.00.
- On Monday, March 25th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $76.77, for a total value of $2,878,875.00.
Nuvalent Stock Down 4.4 %
NASDAQ:NUVL opened at $66.93 on Thursday. Nuvalent, Inc. has a 12-month low of $25.10 and a 12-month high of $89.39. The firm has a market capitalization of $4.29 billion, a P/E ratio of -30.99 and a beta of 1.29. The stock's fifty day simple moving average is $80.27 and its 200-day simple moving average is $69.88.
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Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.02). As a group, equities research analysts expect that Nuvalent, Inc. will post -2.93 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NUVL. Leerink Partnrs raised Nuvalent from a "market perform" rating to an "outperform" rating in a report on Monday, April 1st. Wedbush reiterated an "outperform" rating and issued a $99.00 price objective on shares of Nuvalent in a research report on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on Nuvalent from $68.00 to $98.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. BMO Capital Markets increased their price objective on Nuvalent from $93.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 28th. Finally, SVB Leerink upgraded Nuvalent from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $69.00 to $110.00 in a research report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Nuvalent presently has a consensus rating of "Moderate Buy" and an average target price of $90.00.
Get Our Latest Research Report on NUVL
Institutional Trading of Nuvalent
Hedge funds and other institutional investors have recently modified their holdings of the company. Hudson Bay Capital Management LP raised its stake in shares of Nuvalent by 43.2% in the 3rd quarter. Hudson Bay Capital Management LP now owns 42,955 shares of the company's stock valued at $1,975,000 after purchasing an additional 12,955 shares during the period. Rafferty Asset Management LLC raised its stake in shares of Nuvalent by 18.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 95,715 shares of the company's stock valued at $4,400,000 after purchasing an additional 15,197 shares during the period. New York State Common Retirement Fund raised its stake in shares of Nuvalent by 49.8% in the 3rd quarter. New York State Common Retirement Fund now owns 20,207 shares of the company's stock valued at $929,000 after purchasing an additional 6,714 shares during the period. Invesco Ltd. raised its stake in shares of Nuvalent by 51.2% in the 3rd quarter. Invesco Ltd. now owns 208,687 shares of the company's stock valued at $9,593,000 after purchasing an additional 70,673 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Nuvalent by 196.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 197,986 shares of the company's stock valued at $9,101,000 after acquiring an additional 131,296 shares in the last quarter. 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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