Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director Matthew Shair sold 37,500 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $69.48, for a total value of $2,605,500.00. Following the completion of the transaction, the director now directly owns 1,462,198 shares in the company, valued at approximately $101,593,517.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Matthew Shair also recently made the following trade(s):
- On Monday, April 29th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $67.51, for a total value of $135,020.00.
- On Monday, April 22nd, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $63.65, for a total value of $2,386,875.00.
- On Monday, April 15th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $65.56, for a total value of $2,458,500.00.
- 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 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 1.6 %
The most important AI company you've never heard of
From Manward Press | Ad
Because this small company solves the BIGGEST problem with Nvidia's AI chips.
Already, Amazon, Microsoft, Google and others are lining up to get this company's products.
Get the full story on this secret AI company poised for massive growth
NASDAQ:NUVL opened at $67.54 on Thursday. Nuvalent, Inc. has a 52 week low of $37.13 and a 52 week high of $89.39. The stock has a market capitalization of $4.33 billion, a PE ratio of -31.27 and a beta of 1.35. The stock's 50-day moving average price is $74.00 and its 200-day moving average price is $71.82.
Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.02). Sell-side analysts expect that Nuvalent, Inc. will post -2.89 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
NUVL has been the topic of several recent research reports. Leerink Partnrs raised Nuvalent from a "market perform" rating to an "outperform" rating in a research report on Monday, April 1st. Wedbush reiterated an "outperform" rating and set a $99.00 price objective on shares of Nuvalent in a 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 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 report on Wednesday, February 28th. Finally, 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 for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.78.
View Our Latest Stock Report on NUVL
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP raised its position in Nuvalent by 43.2% in the third 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 grew its stake in shares of Nuvalent by 18.9% in the third 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 in the last quarter. New York State Common Retirement Fund grew its stake in shares of Nuvalent by 49.8% in the third 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 in the last quarter. Invesco Ltd. grew its stake in shares of Nuvalent by 51.2% in the third quarter. Invesco Ltd. now owns 208,687 shares of the company's stock worth $9,593,000 after acquiring an additional 70,673 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Nuvalent by 196.9% in the third 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 in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.
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].
