Key Points
- Nuvalent CFO Alexandra Balcom sold 11,430 shares on June 1 at an average price of $98.69, generating about $1.13 million in proceeds. After the sale, she still held 85,533 shares valued at roughly $8.44 million.
- The transaction represented an 11.79% reduction in her position, and it follows a similar sale in April when she sold another 11,430 shares.
- Nuvalent shares were trading at $90.18 at the time of the report, with analysts maintaining a Moderate Buy consensus and an average price target of $141.24.
Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CFO Alexandra Balcom sold 11,430 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $98.69, for a total value of $1,128,026.70. Following the completion of the sale, the chief financial officer owned 85,533 shares of the company's stock, valued at $8,441,251.77. The trade was a 11.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Alexandra Balcom also recently made the following trade(s):
- On Wednesday, April 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $105.21, for a total value of $1,202,550.30.
Nuvalent Stock Performance
Shares of NASDAQ NUVL opened at $90.18 on Thursday. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of -14.88 and a beta of 1.15. The stock has a 50 day moving average price of $102.75 and a 200 day moving average price of $103.22. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $113.01.
Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.35) by ($0.04). During the same quarter in the previous year, the firm posted ($1.18) earnings per share. Analysts forecast that Nuvalent, Inc. will post -5.78 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Wedbush restated an "outperform" rating and set a $125.00 price target on shares of Nuvalent in a research note on Thursday, May 28th. HC Wainwright restated a "buy" rating and set a $155.00 price target on shares of Nuvalent in a research note on Tuesday, April 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Nuvalent in a research note on Tuesday. Wells Fargo & Company assumed coverage on Nuvalent in a research note on Monday, March 30th. They set an "overweight" rating and a $116.00 price target on the stock. Finally, Leerink Partners set a $165.00 price target on Nuvalent in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.24.
Read Our Latest Stock Analysis on Nuvalent
Institutional Trading of Nuvalent
Hedge funds have recently bought and sold shares of the stock. Candriam S.C.A. lifted its holdings in Nuvalent by 9.4% during the third quarter. Candriam S.C.A. now owns 329,721 shares of the company's stock worth $28,514,000 after buying an additional 28,462 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Nuvalent during the third quarter worth $1,297,000. HighVista Strategies LLC lifted its holdings in Nuvalent by 84.9% during the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company's stock worth $8,068,000 after buying an additional 42,834 shares during the period. Aberdeen Group plc lifted its holdings in Nuvalent by 115.4% during the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company's stock worth $16,615,000 after buying an additional 88,489 shares during the period. Finally, Cantor Fitzgerald L. P. purchased a new stake in Nuvalent during the third quarter worth $1,946,000. Hedge funds and other institutional investors own 97.26% of the company's stock.
About Nuvalent
(
Get Free Report)
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.
Further Reading
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