Deutsche Bank AG Has $2.79 Million Stock Holdings in Nuvalent, Inc. (NASDAQ:NUVL)

Deutsche Bank AG raised its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 81.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,663 shares of the company’s stock after acquiring an additional 16,018 shares during the period. Deutsche Bank AG owned approximately 0.05% of Nuvalent worth $2,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. acquired a new position in shares of Nuvalent during the 4th quarter worth $27,000. Quarry LP acquired a new position in shares of Nuvalent during the 4th quarter worth $39,000. US Bancorp DE acquired a new position in shares of Nuvalent during the 4th quarter worth $90,000. KBC Group NV raised its holdings in shares of Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company’s stock worth $124,000 after buying an additional 602 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Nuvalent by 13.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock worth $205,000 after buying an additional 309 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $68.94, for a total value of $1,861,380.00. Following the sale, the chief executive officer now owns 249,062 shares in the company, valued at approximately $17,170,334.28. The trade was a 9.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew Shair sold 2,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $78.43, for a total value of $156,860.00. Following the completion of the sale, the director now owns 216,522 shares in the company, valued at $16,981,820.46. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $4,066,730 in the last 90 days. Corporate insiders own 12.52% of the company’s stock.

Nuvalent Stock Down 2.9%

Shares of NUVL opened at $73.66 on Thursday. Nuvalent, Inc. has a 12-month low of $55.54 and a 12-month high of $113.51. The business has a 50-day simple moving average of $71.52 and a two-hundred day simple moving average of $79.49. The stock has a market cap of $5.27 billion, a PE ratio of -21.23 and a beta of 1.42.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, May 8th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.14) by ($0.04). During the same period last year, the business earned ($0.69) earnings per share. On average, equities research analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on NUVL. UBS Group raised Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, March 14th. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Nuvalent in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nuvalent presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

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.