Nuvalent (NASDAQ:NUVL) Price Target Increased to $115.00 by Analysts at Stifel Nicolaus

Nuvalent (NASDAQ:NUVLFree Report) had its target price boosted by Stifel Nicolaus from $103.00 to $115.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Nuvalent in a research note on Wednesday, April 17th. They set a buy rating and a $97.00 target price on the stock. Leerink Partnrs raised shares of Nuvalent from a market perform rating to an outperform rating in a research note on Monday, April 1st. Wedbush reissued an outperform rating and issued a $99.00 price target on shares of Nuvalent in a research note on Friday, May 17th. Finally, SVB Leerink raised shares of Nuvalent from a market perform rating to an outperform rating and boosted their price target for the company from $69.00 to $110.00 in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Nuvalent presently has an average rating of Moderate Buy and a consensus price target of $96.33.

View Our Latest Analysis on Nuvalent

Nuvalent Price Performance

Shares of NUVL stock opened at $74.52 on Wednesday. The firm’s 50-day moving average is $72.96 and its two-hundred day moving average is $75.16. Nuvalent has a 12 month low of $39.86 and a 12 month high of $89.39. The company has a market capitalization of $4.81 billion, a PE ratio of -30.92 and a beta of 1.28.

Nuvalent (NASDAQ:NUVLGet Free Report) last issued its 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). Sell-side analysts forecast that Nuvalent will post -3.06 EPS for the current year.

Insider Buying and Selling

In related news, Director Matthew Shair sold 37,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $65.56, for a total transaction of $2,458,500.00. Following the sale, the director now directly owns 1,574,698 shares of the company’s stock, valued at approximately $103,237,200.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Nuvalent news, CFO Alexandra Balcom sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $75.43, for a total transaction of $754,300.00. Following the completion of the transaction, the chief financial officer now owns 33,300 shares in the company, valued at approximately $2,511,819. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Shair sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $65.56, for a total transaction of $2,458,500.00. Following the transaction, the director now owns 1,574,698 shares of the company’s stock, valued at approximately $103,237,200.88. The disclosure for this sale can be found here. Insiders have sold a total of 182,000 shares of company stock valued at $12,305,475 in the last ninety days. Company insiders own 12.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NUVL. Darwin Global Management Ltd. grew its holdings in Nuvalent by 2,390.5% during the 1st quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock worth $107,902,000 after acquiring an additional 1,379,266 shares in the last quarter. Vanguard Group Inc. grew its holdings in Nuvalent by 56.5% during the 4th quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after acquiring an additional 1,205,668 shares in the last quarter. Commodore Capital LP grew its holdings in Nuvalent by 60.6% during the 4th quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after acquiring an additional 502,259 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Nuvalent by 18.5% during the 4th quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock worth $214,735,000 after acquiring an additional 454,540 shares in the last quarter. Finally, First Turn Management LLC acquired a new position in Nuvalent during the 4th quarter worth approximately $18,831,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Company Profile

(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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