Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CEO James Richard Porter sold 30,000 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $123.72, for a total value of $3,711,600.00. Following the completion of the sale, the chief executive officer owned 324,879 shares in the company, valued at approximately $40,194,029.88. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
James Richard Porter also recently made the following trade(s):
- On Monday, June 8th, James Richard Porter sold 30,000 shares of Nuvalent stock. The stock was sold at an average price of $88.53, for a total value of $2,655,900.00.
- On Monday, May 4th, James Richard Porter sold 30,000 shares of Nuvalent stock. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00.
Nuvalent Stock Performance
Shares of Nuvalent stock opened at $123.80 on Thursday. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.85. The stock's 50-day simple moving average is $110.79 and its 200 day simple moving average is $105.60. The stock has a market capitalization of $9.78 billion, a P/E ratio of -20.43 and a beta of 1.14.
Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter last year, the firm earned ($1.18) EPS. Equities research analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.
Analyst Ratings Changes
NUVL has been the subject of several analyst reports. TD Cowen downgraded shares of Nuvalent from a "buy" rating to a "hold" rating and set a $124.00 price objective for the company. in a report on Tuesday, June 9th. Robert W. Baird set a $122.85 target price on shares of Nuvalent in a report on Tuesday, June 9th. Truist Financial downgraded Nuvalent from a "buy" rating to a "hold" rating and dropped their target price for the stock from $140.00 to $124.00 in a research report on Tuesday, June 9th. HC Wainwright lowered Nuvalent from a "buy" rating to a "neutral" rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Finally, Raymond James Financial cut Nuvalent from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nuvalent has a consensus rating of "Hold" and an average target price of $127.73.
Check Out Our Latest Analysis on NUVL
Hedge Funds Weigh In On Nuvalent
Several hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new position in Nuvalent during the third quarter valued at approximately $107,794,000. Wellington Management Group LLP boosted its holdings in Nuvalent by 46.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company's stock valued at $198,979,000 after purchasing an additional 724,491 shares during the period. Vanguard Group Inc. boosted its holdings in Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company's stock valued at $527,521,000 after purchasing an additional 639,264 shares during the period. Norges Bank purchased a new position in shares of Nuvalent during the 4th quarter valued at $57,763,000. Finally, JPMorgan Chase & Co. grew its position in shares of Nuvalent by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company's stock valued at $221,826,000 after purchasing an additional 545,542 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.
Nuvalent Company Profile
(
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.
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