Cwm LLC Raises Stock Position in Nuvalent, Inc. $NUVL

Cwm LLC boosted its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 253.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,486 shares of the company’s stock after purchasing an additional 1,066 shares during the quarter. Cwm LLC’s holdings in Nuvalent were worth $113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NUVL. ANTIPODES PARTNERS Ltd purchased a new stake in Nuvalent in the 1st quarter valued at $38,000. Covestor Ltd raised its position in Nuvalent by 705.7% in the 1st quarter. Covestor Ltd now owns 983 shares of the company’s stock valued at $70,000 after purchasing an additional 861 shares during the last quarter. Farther Finance Advisors LLC raised its position in Nuvalent by 9,230.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock valued at $93,000 after purchasing an additional 1,200 shares during the last quarter. GF Fund Management CO. LTD. raised its position in Nuvalent by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,680 shares of the company’s stock valued at $119,000 after purchasing an additional 302 shares during the last quarter. Finally, US Bancorp DE raised its position in Nuvalent by 58.8% in the 1st quarter. US Bancorp DE now owns 1,836 shares of the company’s stock valued at $130,000 after purchasing an additional 680 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Insider Transactions at Nuvalent

In related news, insider Deborah Ann Miller sold 21,800 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $103.16, for a total value of $2,248,888.00. Following the sale, the insider directly owned 49,086 shares in the company, valued at $5,063,711.76. The trade was a 30.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Shair sold 32,455 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $100.27, for a total transaction of $3,254,262.85. Following the completion of the sale, the director owned 1,383,044 shares in the company, valued at $138,677,821.88. This represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 278,571 shares of company stock worth $25,037,031 over the last ninety days. 10.20% of the stock is currently owned by company insiders.

Nuvalent Stock Up 1.2%

NASDAQ:NUVL opened at $99.32 on Friday. Nuvalent, Inc. has a fifty-two week low of $55.53 and a fifty-two week high of $104.90. The stock has a market cap of $7.16 billion, a PE ratio of -18.67 and a beta of 1.30. The firm’s fifty day simple moving average is $84.61 and its 200-day simple moving average is $79.23.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same period last year, the business earned ($1.28) EPS. Equities analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 target price on the stock. Stifel Nicolaus began coverage on shares of Nuvalent in a research note on Thursday, October 16th. They issued a “buy” rating and a $115.00 price objective on the stock. Barclays boosted their price objective on shares of Nuvalent from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim began coverage on shares of Nuvalent in a research note on Thursday, September 4th. They issued a “buy” rating and a $122.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of Nuvalent in a research note on Monday, September 8th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.08.

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.