Key Points
- Nuvalent CEO James Richard Porter sold 30,000 shares on April 6 at an average price of $103.77 under a Rule 10b5-1 plan for proceeds of $3.11M, reducing his stake by 8.45% to 324,879 shares (~$33.7M).
- The stock was up 2.7%, trades between a 52-week low of $55.53 and high of $113.01, and the company has a market cap of $8.26B; analysts have a consensus rating of “Moderate Buy” (16 Buys, 1 Sell) with a $137.25 target price.
- Institutional investors own 97.26% of Nuvalent, with several funds recently increasing or initiating positions, and the company is a clinical-stage oncology firm advancing lead candidates NVL-520 and NVL-655.
Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CEO James Richard Porter sold 30,000 shares of the business's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $103.77, for a total transaction of $3,113,100.00. Following the sale, the chief executive officer owned 324,879 shares of the company's stock, valued at approximately $33,712,693.83. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nuvalent Stock Up 2.7%
NUVL opened at $105.04 on Thursday. Nuvalent, Inc. has a 52-week low of $55.53 and a 52-week high of $113.01. The company has a 50 day moving average of $101.39 and a two-hundred day moving average of $99.62. The company has a market cap of $8.26 billion, a P/E ratio of -17.96 and a beta of 1.31.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Candriam S.C.A. boosted its stake in Nuvalent by 9.4% during the 3rd quarter. Candriam S.C.A. now owns 329,721 shares of the company's stock valued at $28,514,000 after acquiring an additional 28,462 shares during the last quarter. Voya Investment Management LLC boosted its stake in Nuvalent by 9.4% during the 3rd quarter. Voya Investment Management LLC now owns 134,742 shares of the company's stock valued at $11,652,000 after acquiring an additional 11,523 shares during the last quarter. SG Americas Securities LLC bought a new position in Nuvalent during the 3rd quarter valued at $1,629,000. Hudson Bay Capital Management LP bought a new position in Nuvalent during the 3rd quarter valued at $1,297,000. Finally, HighVista Strategies LLC boosted its stake in Nuvalent by 84.9% during the 3rd quarter. HighVista Strategies LLC now owns 93,294 shares of the company's stock valued at $8,068,000 after acquiring an additional 42,834 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NUVL. UBS Group restated a "buy" rating on shares of Nuvalent in a research note on Wednesday, December 17th. Wells Fargo & Company began coverage on shares of Nuvalent in a research note on Monday, March 30th. They issued an "overweight" rating and a $116.00 target price for the company. Cantor Fitzgerald upped their target price on shares of Nuvalent from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Nuvalent from $147.00 to $145.00 and set an "overweight" rating for the company in a research note on Friday, December 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nuvalent in a research note on Thursday, January 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.25.
Get Our Latest Report on NUVL
Nuvalent Company Profile
(
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Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company's research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.
Nuvalent's lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.
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