FY2029 EPS Estimates for Nuvalent Decreased by HC Wainwright

Nuvalent, Inc. (NASDAQ:NUVL) – Investment analysts at HC Wainwright cut their FY2029 earnings per share (EPS) estimates for shares of Nuvalent in a research note issued on Friday, October 31st. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings of $6.77 per share for the year, down from their previous estimate of $6.87. The consensus estimate for Nuvalent’s current full-year earnings is ($3.86) per share.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period in the prior year, the business posted ($1.28) earnings per share.

A number of other brokerages have also recently weighed in on NUVL. Barclays lifted their price target on shares of Nuvalent from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on Nuvalent in a report on Thursday, October 16th. They set a “buy” rating and a $115.00 price objective on the stock. Piper Sandler lifted their price objective on Nuvalent from $112.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Nuvalent in a report on Monday, September 8th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Nuvalent has a consensus rating of “Moderate Buy” and an average price target of $123.08.

Nuvalent Stock Up 1.2%

Shares of NASDAQ NUVL opened at $99.32 on Monday. The company’s fifty day moving average is $84.61 and its 200-day moving average is $79.36. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -18.67 and a beta of 1.31. Nuvalent has a twelve month low of $55.53 and a twelve month high of $104.90.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Nuvalent by 4.2% in the 2nd quarter. State Street Corp now owns 1,490,279 shares of the company’s stock valued at $113,708,000 after purchasing an additional 59,620 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Nuvalent by 11.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,450,602 shares of the company’s stock valued at $102,878,000 after purchasing an additional 152,692 shares during the period. Wellington Management Group LLP raised its holdings in shares of Nuvalent by 12.3% in the 1st quarter. Wellington Management Group LLP now owns 1,442,384 shares of the company’s stock valued at $102,294,000 after purchasing an additional 157,809 shares during the period. Braidwell LP raised its holdings in shares of Nuvalent by 39.8% in the 2nd quarter. Braidwell LP now owns 1,175,876 shares of the company’s stock valued at $89,719,000 after purchasing an additional 334,931 shares during the period. Finally, Vestal Point Capital LP raised its holdings in shares of Nuvalent by 79.2% in the 1st quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company’s stock valued at $76,239,000 after purchasing an additional 475,000 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Activity

In other Nuvalent news, insider Henry E. Pelish sold 14,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $90.04, for a total transaction of $1,279,018.20. Following the transaction, the insider owned 65,963 shares of the company’s stock, valued at $5,939,308.52. The trade was a 17.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Shair sold 32,455 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $100.27, for a total value of $3,254,262.85. Following the transaction, the director directly owned 1,383,044 shares in the company, valued at $138,677,821.88. This trade represents a 2.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 278,571 shares of company stock worth $25,037,031. Corporate insiders own 10.20% of the company’s stock.

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.