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

Shares of Nuvalent, Inc. (NASDAQ:NUVLGet Free Report) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $90.78.

NUVL has been the topic of a number of analyst reports. Robert W. Baird initiated coverage on Nuvalent in a research report on Friday, February 23rd. They issued an “outperform” rating and a $105.00 price target on the stock. Guggenheim began coverage on Nuvalent in a report on Wednesday, February 28th. They set a “buy” rating and a $99.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $99.00 price target on shares of Nuvalent in a research note on Tuesday, February 27th. BMO Capital Markets raised their price objective on shares of Nuvalent from $93.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Nuvalent from $68.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th.

Read Our Latest Stock Analysis on NUVL

Insider Buying and Selling at Nuvalent

In other Nuvalent news, insider Darlene Noci sold 20,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $77.51, for a total value of $1,550,200.00. Following the transaction, the insider now owns 33,300 shares of the company’s stock, valued at approximately $2,581,083. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nuvalent news, insider Deborah Ann Miller sold 22,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $75.20, for a total transaction of $1,654,400.00. Following the transaction, the insider now owns 33,300 shares of the company’s stock, valued at approximately $2,504,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darlene Noci sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was 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 approximately $2,581,083. The disclosure for this sale can be found here. Insiders have sold 1,155,000 shares of company stock worth $83,594,980 over the last quarter. Insiders own 14.77% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

Several institutional investors have recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in Nuvalent during the 4th quarter valued at approximately $63,000. China Universal Asset Management Co. Ltd. grew its holdings 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 worth $61,000 after acquiring an additional 654 shares during the period. SG Americas Securities LLC acquired a new position in Nuvalent in the first quarter valued at approximately $121,000. Allspring Global Investments Holdings LLC grew its position in Nuvalent by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock valued at $168,000 after buying an additional 189 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Nuvalent by 33.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,960 shares of the company’s stock worth $218,000 after acquiring an additional 750 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Nuvalent Stock Down 3.0 %

NASDAQ:NUVL opened at $65.48 on Friday. The firm has a market capitalization of $4.20 billion, a P/E ratio of -30.31 and a beta of 1.35. Nuvalent has a 52 week low of $37.95 and a 52 week high of $89.39. The company has a fifty day moving average of $73.24 and a 200 day moving average of $71.89.

Nuvalent (NASDAQ:NUVLGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02). As a group, analysts anticipate that Nuvalent will post -2.89 EPS for the current year.

About Nuvalent

(Get Free Report

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.

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Analyst Recommendations for Nuvalent (NASDAQ:NUVL)

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