Deborah Ann Miller Sells 3,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 3,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $72.07, for a total value of $216,210.00. Following the completion of the transaction, the insider now directly owns 33,300 shares in the company, valued at approximately $2,399,931. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, April 4th, Deborah Ann Miller sold 3,000 shares of Nuvalent stock. The stock was sold at an average price of $73.60, for a total transaction of $220,800.00.
• On Thursday, March 28th, Deborah Ann Miller sold 22,000 shares of Nuvalent stock. The stock was sold at an average price of $75.20, for a total transaction of $1,654,400.00.

Nuvalent Stock Performance

Shares of NASDAQ:NUVL opened at $70.35 on Friday. Nuvalent, Inc. has a 12 month low of $36.51 and a 12 month high of $89.39. The company’s fifty day simple moving average is $75.11 and its 200 day simple moving average is $71.34.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Sell-side analysts expect that Nuvalent, Inc. will post -2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Leerink Partnrs upgraded Nuvalent from a “market perform” rating to an “outperform” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of Nuvalent from $68.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. BMO Capital Markets upped their target price 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 issued a $99.00 price target on shares of Nuvalent in a research report on Tuesday, February 27th. Finally, Jefferies Financial Group started coverage on shares of Nuvalent in a report on Wednesday, April 17th. They set a “buy” rating and a $97.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.78.

Hedge Funds Weigh In On Nuvalent

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in Nuvalent by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 83,306 shares of the company’s stock worth $3,830,000 after purchasing an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nuvalent by 460.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,849 shares of the company’s stock valued at $177,000 after acquiring an additional 3,162 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Nuvalent by 16.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,866 shares of the company’s stock valued at $683,000 after acquiring an additional 2,058 shares during the last quarter. TD Asset Management Inc raised its holdings in Nuvalent by 271.3% during the third quarter. TD Asset Management Inc now owns 45,524 shares of the company’s stock worth $2,093,000 after acquiring an additional 33,262 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Nuvalent by 97.2% during the third 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. 97.26% of the stock is owned by institutional investors.

About Nuvalent

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.