Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Deborah Ann Miller sold 3,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $72.07, for a total value of $216,210.00. Following the completion of the transaction, the insider now directly owns 33,300 shares of the company's stock, valued at approximately $2,399,931. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Deborah Ann Miller also recently made the following trade(s):
- On Thursday, April 4th, Deborah Ann Miller sold 3,000 shares of Nuvalent stock. The stock was sold at an average price of $73.60, for a total value of $220,800.00.
- On Thursday, March 28th, Deborah Ann Miller sold 22,000 shares of Nuvalent stock. The shares were sold at an average price of $75.20, for a total value of $1,654,400.00.
Nuvalent Price Performance
Shares of NASDAQ:NUVL opened at $70.35 on Friday. Nuvalent, Inc. has a 1 year low of $36.51 and a 1 year high of $89.39. The business's 50-day moving average is $75.45 and its 200-day moving average is $71.25.
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). Equities analysts anticipate that Nuvalent, Inc. will post -2.89 EPS for the current fiscal year.
Institutional Inflows and Outflows
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A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Nuvalent by 56.5% in the fourth quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company's stock worth $245,780,000 after purchasing an additional 1,205,668 shares during the period. Commodore Capital LP boosted its position in shares of Nuvalent by 60.6% during the 4th quarter. Commodore Capital LP now owns 1,331,037 shares of the company's stock worth $97,951,000 after purchasing an additional 502,259 shares in the last quarter. Perceptive Advisors LLC grew its stake in shares of Nuvalent by 18.5% in the 4th quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company's stock valued at $214,735,000 after buying an additional 454,540 shares during the period. First Turn Management LLC acquired a new stake in shares of Nuvalent in the 4th quarter valued at about $18,831,000. Finally, Vestal Point Capital LP bought a new stake in Nuvalent in the 4th quarter valued at about $14,718,000. Institutional investors and hedge funds own 97.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of Nuvalent in a report on Wednesday, April 17th. They set a "buy" rating and a $97.00 target price on the stock. Wedbush reissued an "outperform" rating and issued a $99.00 price objective on shares of Nuvalent in a research note on Tuesday, February 27th. Robert W. Baird began coverage on Nuvalent in a research report on Friday, February 23rd. They set an "outperform" rating and a $105.00 target price for the company. JPMorgan Chase & Co. upped their price target on Nuvalent from $68.00 to $98.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. Finally, Guggenheim assumed coverage on Nuvalent in a research note on Wednesday, February 28th. They issued a "buy" rating and a $99.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.78.
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About Nuvalent
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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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