Nuvalent (NASDAQ:NUVL) CFO Sells $412,247.52 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 4,236 shares of Nuvalent stock in a transaction on Monday, January 5th. The shares were sold at an average price of $97.32, for a total value of $412,247.52. Following the sale, the chief financial officer directly owned 84,914 shares of the company’s stock, valued at approximately $8,263,830.48. The trade was a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alexandra Balcom also recently made the following trade(s):

• On Tuesday, January 6th, Alexandra Balcom sold 3,181 shares of Nuvalent stock. The stock was sold at an average price of $97.16, for a total value of $309,065.96.
• On Monday, December 8th, Alexandra Balcom sold 7,084 shares of Nuvalent stock. The shares were sold at an average price of $110.32, for a total value of $781,506.88.
• On Monday, November 17th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The shares were sold at an average price of $99.45, for a total value of $1,989,000.00.
• On Tuesday, November 18th, Alexandra Balcom sold 729 shares of Nuvalent stock. The stock was sold at an average price of $104.26, for a total value of $76,005.54.
• On Wednesday, October 15th, Alexandra Balcom sold 1,683 shares of Nuvalent stock. The shares were sold at an average price of $85.57, for a total transaction of $144,014.31.
• On Monday, October 13th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The stock was sold at an average price of $88.51, for a total transaction of $1,770,200.00.

Nuvalent Stock Up 2.3%

Shares of NUVL opened at $105.05 on Friday. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of -19.75 and a beta of 1.32. The company’s fifty day moving average is $102.85 and its 200-day moving average is $89.21. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 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 analysts’ consensus estimates 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, Inc. will post -3.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NUVL has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $125.00 target price (up from $120.00) on shares of Nuvalent in a report on Monday, November 17th. HC Wainwright lifted their price target on shares of Nuvalent from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, November 17th. The Goldman Sachs Group upped their price objective on shares of Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Piper Sandler raised their target price 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. Finally, Truist Financial set a $140.00 target price on shares of Nuvalent in a research report on Monday, November 24th. Fifteen 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 currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Hedge Funds Weigh In On Nuvalent

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after purchasing an additional 108 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Nuvalent during the third quarter valued at about $38,000. Eastern Bank bought a new stake in shares of Nuvalent in the third quarter valued at about $52,000. Persistent Asset Partners Ltd acquired a new stake in Nuvalent during the second quarter worth about $88,000. Finally, Farther Finance Advisors LLC increased its stake in Nuvalent by 9,230.8% during the second quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock valued at $93,000 after acquiring an additional 1,200 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

About Nuvalent

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.