Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CFO Alexandra Balcom sold 11,430 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the transaction, the chief financial officer owned 85,533 shares of the company's stock, valued at approximately $10,570,168.14. This represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Alexandra Balcom also recently made the following trade(s):
- On Monday, June 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $98.69, for a total transaction of $1,128,026.70.
Nuvalent Stock Performance
NUVL stock opened at $123.72 on Tuesday. Nuvalent, Inc. has a one year low of $71.13 and a one year high of $123.80. The firm's fifty day moving average is $110.01 and its 200 day moving average is $105.28. The firm has a market cap of $9.77 billion, a PE ratio of -20.42 and a beta of 1.14.
Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($1.35) by ($0.04). During the same period last year, the business posted ($1.18) EPS. Research analysts predict that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of NUVL. Vanguard Group Inc. raised its holdings in shares of Nuvalent by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company's stock valued at $527,521,000 after acquiring an additional 639,264 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Nuvalent by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company's stock worth $247,635,000 after acquiring an additional 160,958 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Nuvalent by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company's stock worth $221,826,000 after purchasing an additional 545,542 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Nuvalent by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company's stock worth $215,962,000 after purchasing an additional 336,518 shares in the last quarter. Finally, RA Capital Management L.P. raised its stake in Nuvalent by 50.8% in the 4th quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company's stock valued at $189,115,000 after purchasing an additional 633,601 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on NUVL. Piper Sandler downgraded Nuvalent from an "overweight" rating to a "neutral" rating and set a $124.00 price target on the stock. in a research report on Tuesday, June 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Nuvalent in a research report on Tuesday, April 21st. TD Cowen downgraded Nuvalent from a "buy" rating to a "hold" rating and set a $124.00 target price for the company. in a research note on Tuesday, June 9th. Guggenheim lowered Nuvalent from a "buy" rating to a "neutral" rating and decreased their target price for the company from $151.00 to $124.00 in a research report on Wednesday, June 10th. Finally, UBS Group cut shares of Nuvalent from a "buy" rating to a "neutral" rating and dropped their price target for the company from $138.00 to $124.00 in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $127.73.
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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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