Key Points
- CFO Alexandra Balcom sold 7,084 Nuvalent shares on December 8 at an average price of $110.32 for proceeds of about $781,507, cutting her direct stake to 54,650 shares (a 11.48% decrease) valued near $6.03M.
- Balcom has executed multiple large sales over the past months—including several 20,000-share transactions in Sept–Nov—representing substantial insider selling totaling millions of dollars.
- Nuvalent trades around $105.74 with a market cap of roughly $7.7B, and despite the insider sales analysts hold a consensus “Moderate Buy” rating with an average price target of $137.86 after several recent target increases.
Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CFO Alexandra Balcom sold 7,084 shares of Nuvalent stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $110.32, for a total value of $781,506.88. Following the completion of the sale, the chief financial officer directly owned 54,650 shares in the company, valued at $6,028,988. This represents a 11.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
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 value of $1,989,000.00.
- On Tuesday, November 18th, Alexandra Balcom sold 729 shares of Nuvalent stock. The stock was sold at an average price of $104.26, for a total value of $76,005.54.
- 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 stock was 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 stock was sold at an average price of $85.06, for a total transaction 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 transaction of $645,055.88.
Nuvalent Stock Up 0.6%
Shares of NUVL stock opened at $105.74 on Thursday. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $112.88. The company's fifty day simple moving average is $97.81 and its 200-day simple moving average is $85.16. The firm has a market cap of $7.69 billion, a PE ratio of -19.88 and a beta of 1.31.
Nuvalent (NASDAQ:NUVL - Get Free Report) last released its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.39) by ($0.31). During the same quarter last year, the company earned ($1.28) EPS. On average, equities analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have weighed in on NUVL. Robert W. Baird boosted their price target on Nuvalent from $112.00 to $158.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 18th. Guggenheim increased their price objective on Nuvalent from $125.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, November 18th. HC Wainwright lifted their price target on shares of Nuvalent from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, November 17th. The Goldman Sachs Group raised their price target on Nuvalent from $120.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, November 18th. Finally, Raymond James Financial began coverage on shares of Nuvalent in a research note on Tuesday, September 2nd. They set an "outperform" rating and a $105.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Nuvalent has a consensus rating of "Moderate Buy" and an average price target of $137.86.
Get Our Latest Research Report on Nuvalent
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of NUVL. Cantor Fitzgerald L. P. bought a new position in shares of Nuvalent in the third quarter worth about $1,946,000. CIBC Bancorp USA Inc. acquired a new position in Nuvalent during the 3rd quarter worth approximately $396,000. Woodline Partners LP lifted its stake in Nuvalent by 18.3% in the 3rd quarter. Woodline Partners LP now owns 1,069,520 shares of the company's stock valued at $92,492,000 after purchasing an additional 165,288 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in Nuvalent by 102.1% in the third quarter. Alyeska Investment Group L.P. now owns 101,066 shares of the company's stock valued at $8,740,000 after buying an additional 51,066 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Nuvalent in the third quarter valued at approximately $493,000. Institutional investors and hedge funds own 97.26% of the company's stock.
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.
Further Reading
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