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

Nuvalent, Inc. (NASDAQ:NUVL) insider Christopher Durant Turner sold 4,236 shares of the stock in a transaction that occurred 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 transaction, the insider owned 58,311 shares of the company’s stock, valued at approximately $5,674,826.52. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Christopher Durant Turner also recently made the following trade(s):

• On Tuesday, January 6th, Christopher Durant Turner sold 3,181 shares of Nuvalent stock. The stock was sold at an average price of $97.16, for a total transaction of $309,065.96.

Nuvalent Price Performance

NUVL opened at $105.05 on Friday. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $112.88. The stock has a market capitalization of $7.64 billion, a PE ratio of -19.75 and a beta of 1.32. The firm’s fifty day moving average price is $102.85 and its 200 day moving average price is $89.21.

Nuvalent (NASDAQ:NUVL) last released its earnings results 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 company earned ($1.28) EPS. On average, equities research analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvalent

Several large investors have recently added to or reduced their stakes in NUVL. GAMMA Investing LLC lifted its stake in Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nuvalent in the 3rd quarter worth about $38,000. Eastern Bank acquired a new stake in shares of Nuvalent in the 3rd quarter worth about $52,000. Persistent Asset Partners Ltd bought a new stake in Nuvalent in the 2nd quarter valued at about $88,000. Finally, Farther Finance Advisors LLC boosted its stake in 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 during the period. 97.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NUVL has been the topic of a number of research analyst reports. Truist Financial set a $140.00 target price on Nuvalent in a report on Monday, November 24th. Guggenheim raised their price objective on Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Leerink Partners lifted their price objective on shares of Nuvalent from $140.00 to $149.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. The Goldman Sachs Group increased their target price on shares of Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Cantor Fitzgerald initiated coverage on shares of Nuvalent in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price target on the stock. Fifteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.33.

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.