Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director Matthew Shair sold 37,500 shares of the firm's stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $65.56, for a total value of $2,458,500.00. Following the completion of the transaction, the director now owns 1,574,698 shares in the company, valued at $103,237,200.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Matthew Shair also recently made the following trade(s):
- On Monday, April 8th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $68.44, for a total value of $2,566,500.00.
- On Monday, April 1st, Matthew Shair sold 37,500 shares of Nuvalent stock. The stock was 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 stock was sold at an average price of $76.77, for a total value of $2,878,875.00.
Nuvalent Stock Performance
NASDAQ:NUVL opened at $64.25 on Thursday. Nuvalent, Inc. has a 12-month low of $29.25 and a 12-month high of $89.39. The business has a 50 day simple moving average of $79.01 and a 200 day simple moving average of $70.62.
Healthcare Takes A Big Step Forward With The Help Of AI
From The Bull Report | Ad
The average doctor can diagnose an illness correctly 50-90% of the time.
But one innovative company's medical AI gets it right 92%+.
Click here to see why this small company is trusted by the Mayo Clinic
Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.02). On average, equities research analysts predict that Nuvalent, Inc. will post -2.93 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP boosted its position in Nuvalent by 43.2% during 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 boosted its position in Nuvalent by 18.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 95,715 shares of the company's stock worth $4,400,000 after acquiring an additional 15,197 shares during the period. New York State Common Retirement Fund boosted its position in Nuvalent by 49.8% during the 3rd quarter. New York State Common Retirement Fund now owns 20,207 shares of the company's stock worth $929,000 after acquiring an additional 6,714 shares during the period. Invesco Ltd. boosted its position in Nuvalent by 51.2% during the 3rd quarter. Invesco Ltd. now owns 208,687 shares of the company's stock worth $9,593,000 after acquiring an additional 70,673 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Nuvalent by 196.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 197,986 shares of the company's stock worth $9,101,000 after acquiring an additional 131,296 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on NUVL shares. Jefferies Financial Group started coverage on Nuvalent in a report on Wednesday. They set a "buy" rating and a $97.00 price objective on the stock. Leerink Partnrs upgraded Nuvalent from a "market perform" rating to an "outperform" rating in a report on Monday, April 1st. Wedbush restated an "outperform" rating and set a $99.00 price objective on shares of Nuvalent in a report on Tuesday, February 27th. Robert W. Baird started coverage on Nuvalent in a report on Friday, February 23rd. They set an "outperform" rating and a $105.00 price objective on the stock. Finally, SVB Leerink upgraded Nuvalent from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $69.00 to $110.00 in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.78.
Get Our Latest Research Report on Nuvalent
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
