Key Points
- Insider sale: Nuvalent insider Henry Pelish sold 2,111 shares on July 9 at an average price of $123.81, totaling about $261,363. The sale reduced his holdings by 3.22% and was disclosed as being for tax withholding tied to equity award vesting.
- Stock performance: NUVL traded at $123.90 on Friday, near its 52-week high of $123.91, with a market cap of $9.79 billion. The shares are above both the 50-day and 200-day moving averages.
- Analyst sentiment: Wall Street is mixed on Nuvalent, with a consensus rating of Hold and an average target price of $127.73. Recent analyst actions included a downgrade from Canaccord Genuity and price targets ranging from $122.85 to $165.00.
Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Henry Pelish sold 2,111 shares of Nuvalent stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $123.81, for a total transaction of $261,362.91. Following the completion of the transaction, the insider directly owned 63,493 shares of the company's stock, valued at $7,861,068.33. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nuvalent Stock Performance
Shares of NASDAQ:NUVL traded up $0.07 during trading on Friday, reaching $123.90. 2,057,860 shares of the stock traded hands, compared to its average volume of 2,176,546. The stock has a 50-day moving average of $111.72 and a two-hundred day moving average of $105.87. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.91. The stock has a market cap of $9.79 billion, a P/E ratio of -20.45 and a beta of 1.14.
Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the prior year, the company earned ($1.18) EPS. Sell-side analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have commented on NUVL shares. Stifel Nicolaus set a $124.00 target price on Nuvalent in a report on Tuesday, June 9th. Canaccord Genuity Group downgraded Nuvalent from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 9th. Leerink Partners set a $165.00 price objective on Nuvalent in a research report on Wednesday, June 3rd. Robert W. Baird set a $122.85 price objective on Nuvalent in a report on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvalent in a report on Tuesday, April 21st. Four investment 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $127.73.
Check Out Our Latest Research Report on NUVL
Hedge Funds Weigh In On Nuvalent
Several hedge funds and other institutional investors have recently modified their holdings of NUVL. GAMMA Investing LLC grew its holdings in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company's stock worth $34,000 after acquiring an additional 108 shares during the period. EverSource Wealth Advisors LLC boosted its position in Nuvalent by 141.3% in the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company's stock worth $34,000 after purchasing an additional 195 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Nuvalent during the 4th quarter valued at about $125,000. KBC Group NV increased its position in shares of Nuvalent by 24.1% during the 4th quarter. KBC Group NV now owns 1,527 shares of the company's stock valued at $154,000 after purchasing an additional 297 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company's stock worth $179,000 after buying an additional 188 shares during the last quarter. 97.26% of the stock is owned by institutional investors.
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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