JPMorgan Chase & Co. Lowers Nuvalent (NASDAQ:NUVL) Price Target to $145.00

Nuvalent (NASDAQ:NUVL) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $147.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 39.69% from the company’s previous close.

Several other analysts also recently weighed in on the company. Barclays set a $152.00 target price on Nuvalent in a research note on Monday, November 17th. HC Wainwright raised their price objective on shares of Nuvalent from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Cantor Fitzgerald initiated coverage on shares of Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price target for the company. Wedbush restated an “outperform” rating and issued a $125.00 price target (up from $120.00) on shares of Nuvalent in a research report on Monday, November 17th. Finally, Stifel Nicolaus upped their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Fifteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Nuvalent presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Nuvalent Trading Up 2.4%

Shares of Nuvalent stock opened at $103.80 on Friday. The firm has a fifty day simple moving average of $100.38 and a 200-day simple moving average of $86.59. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -19.51 and a beta of 1.31. Nuvalent has a 1-year low of $55.53 and a 1-year high of $112.88.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period in the previous year, the company posted ($1.28) EPS. As a group, research analysts predict that Nuvalent will post -3.86 earnings per share for the current year.

Insider Transactions at Nuvalent

In other Nuvalent news, CFO Alexandra Balcom sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $88.51, for a total transaction of $1,770,200.00. Following the completion of the transaction, the chief financial officer owned 61,734 shares in the company, valued at $5,464,076.34. This trade represents a 24.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Flynn sold 742,574 shares of Nuvalent stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $95.44, for a total value of $70,871,262.56. Following the sale, the director directly owned 8,299,225 shares in the company, valued at $792,078,034. The trade was a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,017,433 shares of company stock valued at $97,251,364. Corporate insiders own 10.20% of the company’s stock.

Institutional Trading of Nuvalent

Large investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in shares of Nuvalent during the third quarter valued at $38,000. Eastern Bank acquired a new position in Nuvalent during the third quarter valued at approximately $52,000. Persistent Asset Partners Ltd bought a new position in Nuvalent during the second quarter worth about $88,000. Farther Finance Advisors LLC lifted its holdings in shares of Nuvalent by 9,230.8% during 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 in the last quarter. Finally, CWM LLC grew its position in shares of Nuvalent by 253.8% in the 2nd quarter. CWM LLC now owns 1,486 shares of the company’s stock valued at $113,000 after purchasing an additional 1,066 shares during the period. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Company Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.