Nuvalent, Inc. $NUVL Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 317,764 shares of the company’s stock after selling 5,805 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.44% of Nuvalent worth $22,536,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Paradigm Biocapital Advisors LP boosted its holdings in shares of Nuvalent by 7.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,363,379 shares of the company’s stock worth $419,845,000 after purchasing an additional 363,379 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Nuvalent by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,297,910 shares of the company’s stock worth $101,601,000 after purchasing an additional 215,633 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Nuvalent by 0.9% during the fourth quarter. Woodline Partners LP now owns 1,204,927 shares of the company’s stock worth $94,322,000 after purchasing an additional 11,248 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Nuvalent during the fourth quarter worth $87,689,000. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Nuvalent by 161.2% during the fourth quarter. Polar Capital Holdings Plc now owns 946,723 shares of the company’s stock worth $74,109,000 after purchasing an additional 584,223 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, insider Henry E. Pelish sold 8,630 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $79.87, for a total value of $689,278.10. Following the transaction, the insider directly owned 63,101 shares of the company’s stock, valued at $5,039,876.87. This trade represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alexandra Balcom sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $80.02, for a total value of $1,600,400.00. Following the completion of the transaction, the chief financial officer directly owned 61,734 shares in the company, valued at $4,939,954.68. This trade represents a 24.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,145 shares of company stock valued at $9,455,872 over the last three months. 10.20% of the stock is owned by company insiders.

Analyst Ratings Changes

NUVL has been the topic of several analyst reports. Piper Sandler initiated coverage on Nuvalent in a report on Tuesday. They set an “overweight” rating and a $112.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $130.00 target price (up previously from $110.00) on shares of Nuvalent in a report on Tuesday, June 24th. Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Nuvalent in a report on Monday, July 21st. Robert W. Baird lifted their target price on Nuvalent from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Finally, The Goldman Sachs Group upgraded Nuvalent to a “strong-buy” rating in a report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Nuvalent has an average rating of “Buy” and an average target price of $118.91.

Nuvalent Price Performance

NASDAQ:NUVL opened at $73.65 on Friday. The business’s 50-day moving average is $78.60 and its two-hundred day moving average is $75.66. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $113.51. The firm has a market capitalization of $5.31 billion, a PE ratio of -15.03 and a beta of 1.30.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same quarter in the prior year, the firm earned ($0.88) earnings per share. Equities analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

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.