Creative Planning Buys 9,079 Shares of Nuvalent, Inc. $NUVL

Creative Planning increased its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 110.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,288 shares of the company’s stock after buying an additional 9,079 shares during the quarter. Creative Planning’s holdings in Nuvalent were worth $1,319,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NUVL. CWM LLC boosted its holdings in Nuvalent by 588.5% during the 1st quarter. CWM LLC now owns 420 shares of the company’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. Covestor Ltd lifted its position in shares of Nuvalent by 705.7% during the first quarter. Covestor Ltd now owns 983 shares of the company’s stock valued at $70,000 after purchasing an additional 861 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Nuvalent by 9,230.8% during the second quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock worth $93,000 after purchasing an additional 1,200 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Nuvalent by 38.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,632 shares of the company’s stock worth $125,000 after purchasing an additional 451 shares in the last quarter. Finally, US Bancorp DE grew its position in Nuvalent by 58.8% in the 1st quarter. US Bancorp DE now owns 1,836 shares of the company’s stock worth $130,000 after purchasing an additional 680 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Price Performance

Shares of NASDAQ NUVL opened at $110.73 on Friday. Nuvalent, Inc. has a one year low of $55.53 and a one year high of $112.88. The business’s fifty day moving average price is $93.79 and its 200-day moving average price is $83.20. The stock has a market capitalization of $8.05 billion, a PE ratio of -20.81 and a beta of 1.31.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period in the prior year, the firm earned ($1.28) earnings per share. As a group, equities analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, Director James E. Flynn sold 742,574 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $95.44, for a total transaction of $70,871,262.56. Following the sale, the director owned 8,299,225 shares of the company’s stock, valued at $792,078,034. The trade was a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alexandra Balcom sold 729 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $104.26, for a total value of $76,005.54. Following the sale, the chief financial officer owned 61,734 shares in the company, valued at approximately $6,436,386.84. This represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,041,074 shares of company stock worth $98,898,659. 10.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NUVL has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Truist Financial set a $140.00 price target on Nuvalent in a report on Monday. Barclays set a $152.00 price objective on Nuvalent in a research report on Monday, November 17th. Piper Sandler raised their target price on Nuvalent from $112.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 target price (up from $120.00) on shares of Nuvalent in a research note on Monday, November 17th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.86.

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.