Nuvalent, Inc. (NASDAQ:NUVL) Given Consensus Rating of “Moderate Buy” by Analysts

Nuvalent, Inc. (NASDAQ:NUVL) has earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $90.00.

NUVL has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Nuvalent from $93.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Wedbush reiterated an “outperform” rating and set a $99.00 price objective on shares of Nuvalent in a research report on Tuesday, February 27th. Robert W. Baird started coverage on shares of Nuvalent in a report on Friday, February 23rd. They issued an “outperform” rating and a $105.00 price target on the stock. Guggenheim started coverage on shares of Nuvalent in a report on Wednesday, February 28th. They issued a “buy” rating and a $99.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Nuvalent from a “market perform” rating to an “outperform” rating in a report on Monday, April 1st.

Nuvalent Stock Down 0.4 %

Nuvalent stock opened at $65.28 on Tuesday. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -30.22 and a beta of 1.30. The firm’s fifty day moving average is $79.59 and its 200 day moving average is $70.53. Nuvalent has a 52-week low of $28.67 and a 52-week high of $89.39.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). On average, equities research analysts anticipate that Nuvalent will post -2.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew A. F. Hack sold 880,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $72.77, for a total value of $64,037,600.00. Following the completion of the sale, the director now directly owns 2,697,267 shares of the company’s stock, valued at $196,280,119.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Nuvalent news, insider Darlene Noci sold 20,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $77.51, for a total transaction of $1,550,200.00. Following the completion of the sale, the insider now directly owns 33,300 shares of the company’s stock, valued at $2,581,083. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew A. F. Hack sold 880,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $72.77, for a total transaction of $64,037,600.00. Following the sale, the director now directly owns 2,697,267 shares of the company’s stock, valued at $196,280,119.59. The disclosure for this sale can be found here. Insiders sold a total of 1,037,500 shares of company stock valued at $75,792,875 over the last three months. 14.77% of the stock is owned by company insiders.

Institutional Trading of Nuvalent

Several hedge funds have recently modified their holdings of NUVL. Tower Research Capital LLC TRC lifted its position in shares of Nuvalent by 41.0% during the third quarter. Tower Research Capital LLC TRC now owns 643 shares of the company’s stock valued at $30,000 after buying an additional 187 shares during the last quarter. Amundi purchased a new position in shares of Nuvalent in the 4th quarter valued at approximately $34,000. KBC Group NV purchased a new position in shares of Nuvalent in the 4th quarter valued at approximately $52,000. China Universal Asset Management Co. Ltd. raised its position in shares of Nuvalent by 97.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,327 shares of the company’s stock valued at $61,000 after purchasing an additional 654 shares during the last quarter. Finally, Compass Wealth Management LLC purchased a new position in shares of Nuvalent in the 4th quarter valued at approximately $63,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.