Key Points
- Nuvalent CFO Alexandra Balcom sold 729 shares on Nov. 18 at an average price of $104.26 for $76,005.54 and has completed several larger recent disposals (including multiple 20,000-share sales), leaving her with 61,734 shares — a 1.17% reduction in her stake.
- Shares are trading up (about 3.9% to $111.30) and the stock has a market cap of $8.09 billion; analysts show a consensus "Moderate Buy" with an average price target of $137.69.
- Institutional ownership is heavy, with major investors like RA Capital, Wellington, Braidwell and others building large positions and institutions/hedge funds owning roughly 97.26% of the stock.
Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CFO Alexandra Balcom sold 729 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $104.26, for a total transaction of $76,005.54. Following the completion of the transaction, the chief financial officer owned 61,734 shares of the company's stock, valued at $6,436,386.84. This represents a 1.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Alexandra Balcom also recently made the following trade(s):
- On Monday, November 17th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The stock was sold at an average price of $99.45, for a total transaction of $1,989,000.00.
- On Wednesday, October 15th, Alexandra Balcom sold 1,683 shares of Nuvalent stock. The shares were sold at an average price of $85.57, for a total value of $144,014.31.
- On Monday, October 13th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The shares were sold at an average price of $88.51, for a total value of $1,770,200.00.
- On Tuesday, September 30th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The shares were sold at an average price of $85.06, for a total value of $1,701,200.00.
- On Monday, September 29th, Alexandra Balcom sold 7,588 shares of Nuvalent stock. The shares were sold at an average price of $85.01, for a total value of $645,055.88.
Nuvalent Trading Up 3.9%
NASDAQ:NUVL traded up $4.17 during mid-day trading on Thursday, reaching $111.30. 204,467 shares of the stock were exchanged, compared to its average volume of 535,011. The business has a fifty day moving average price of $89.68 and a 200 day moving average price of $81.43. Nuvalent, Inc. has a 1-year low of $55.53 and a 1-year high of $112.55. The firm has a market capitalization of $8.09 billion, a PE ratio of -21.00 and a beta of 1.31.
Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period in the prior year, the business earned ($1.28) EPS. On average, sell-side analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on NUVL. Leerink Partners raised their target price on Nuvalent from $140.00 to $149.00 and gave the stock an "outperform" rating in a research report on Monday. Wedbush reiterated an "outperform" rating and issued a $125.00 target price (up previously from $120.00) on shares of Nuvalent in a research report on Monday. Cantor Fitzgerald initiated coverage on Nuvalent in a research note on Wednesday, October 15th. They issued an "overweight" rating and a $135.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvalent in a research report on Wednesday, October 8th. Finally, Raymond James Financial assumed coverage on shares of Nuvalent in a report on Tuesday, September 2nd. They set an "outperform" rating and a $105.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.69.
Check Out Our Latest Report on Nuvalent
Hedge Funds Weigh In On Nuvalent
Several large investors have recently bought and sold shares of the stock. RA Capital Management L.P. bought a new stake in shares of Nuvalent in the third quarter valued at about $107,794,000. Wellington Management Group LLP lifted its position in shares of Nuvalent by 46.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company's stock worth $198,979,000 after acquiring an additional 724,491 shares during the period. Braidwell LP lifted its position in shares of Nuvalent by 248.6% in the 1st quarter. Braidwell LP now owns 840,945 shares of the company's stock worth $59,640,000 after acquiring an additional 599,710 shares during the period. Vestal Point Capital LP grew its holdings in shares of Nuvalent by 79.2% during the 1st quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company's stock worth $76,239,000 after purchasing an additional 475,000 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Nuvalent during the first quarter valued at approximately $31,969,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.
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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