Key Points
- Director James Flynn sold 742,574 shares of Nuvalent on November 24 for an average price of $95.44, generating about $70.87 million and reducing his stake by 8.21% to 8,299,225 shares (worth ≈$792.1 million).
- Nuvalent recently reported a quarterly EPS of ($1.70), missing estimates (consensus -$1.39), trades with a negative P/E and a market cap around $7.96 billion, and opened at $109.53 the next trading day.
- Analyst sentiment is largely positive with 14 Buys and 1 Sell, a MarketBeat consensus rating of "Moderate Buy" and an average price target of $137.86.
Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director James Flynn sold 742,574 shares of Nuvalent stock in a transaction on Monday, November 24th. The shares were sold at an average price of $95.44, for a total transaction of $70,871,262.56. Following the completion of the transaction, the director owned 8,299,225 shares in the company, valued at approximately $792,078,034. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Nuvalent Stock Performance
Shares of Nuvalent stock opened at $109.53 on Tuesday. Nuvalent, Inc. has a one year low of $55.53 and a one year high of $112.88. The company has a market cap of $7.96 billion, a P/E ratio of -20.59 and a beta of 1.31. The firm has a fifty day moving average of $91.31 and a two-hundred day moving average of $82.29.
Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same quarter last year, the firm earned ($1.28) EPS. As a group, equities analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Barclays set a $152.00 target price on Nuvalent in a research note on Monday, November 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvalent in a research report on Wednesday, October 8th. Piper Sandler boosted their target price on shares of Nuvalent from $112.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, October 27th. Stifel Nicolaus upped their price target on shares of Nuvalent from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, November 17th. Finally, UBS Group raised their price objective on shares of Nuvalent from $114.00 to $132.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.86.
Check Out Our Latest Stock Analysis on Nuvalent
Hedge Funds Weigh In On Nuvalent
Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its stake in Nuvalent by 588.5% in the 1st quarter. CWM LLC now owns 420 shares of the company's stock valued at $30,000 after purchasing an additional 359 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Nuvalent in the third quarter valued at approximately $38,000. Eastern Bank purchased a new position in shares of Nuvalent during the third quarter valued at approximately $52,000. Covestor Ltd boosted its position in Nuvalent by 705.7% during the first quarter. Covestor Ltd now owns 983 shares of the company's stock worth $70,000 after acquiring an additional 861 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in Nuvalent in the 2nd quarter worth approximately $88,000. 97.26% of the stock is owned by institutional investors and hedge funds.
About Nuvalent
(
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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