Nuvalent (NASDAQ:NUVL) CEO Sells $927,197.88 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CEO James Richard Porter sold 9,543 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the completion of the sale, the chief executive officer directly owned 278,629 shares of the company’s stock, valued at approximately $27,071,593.64. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

James Richard Porter also recently made the following trade(s):

• On Monday, January 5th, James Richard Porter sold 17,890 shares of Nuvalent stock. The stock was sold at an average price of $97.32, for a total value of $1,741,054.80.
• On Thursday, October 16th, James Richard Porter sold 27,000 shares of Nuvalent stock. The stock was sold at an average price of $90.63, for a total value of $2,447,010.00.

Nuvalent Trading Up 2.3%

NASDAQ:NUVL opened at $105.05 on Friday. The firm has a 50-day moving average price of $102.85 and a two-hundred day moving average price of $89.21. The company has a market capitalization of $7.64 billion, a P/E ratio of -19.75 and a beta of 1.32. Nuvalent, Inc. has a twelve month low of $55.53 and a twelve month high of $112.88.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data 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 previous year, the business posted ($1.28) earnings per share. On average, equities research analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on NUVL. HC Wainwright upped their target price on Nuvalent from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Cantor Fitzgerald started coverage on Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price target for the company. Piper Sandler increased their price objective on shares of Nuvalent from $112.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Guggenheim boosted their price objective on Nuvalent from $125.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Robert W. Baird increased their target price on shares of Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Nuvalent currently has an average rating of “Moderate Buy” and an average price target of $138.33.

Institutional Trading of Nuvalent

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Nuvalent by 64.8% in the first quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after acquiring an additional 3,881 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Nuvalent by 54.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after purchasing an additional 159,873 shares in the last quarter. Voleon Capital Management LP bought a new position in Nuvalent during the 1st quarter valued at $1,489,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nuvalent by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after purchasing an additional 12,123 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Nuvalent by 28.7% in the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock worth $1,366,000 after buying an additional 4,293 shares in the last quarter. 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.