Nuvalent, Inc. $NUVL Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,424 shares of the company’s stock after selling 8,337 shares during the period. Fisher Asset Management LLC owned about 0.15% of Nuvalent worth $9,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Nuvalent by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,605,007 shares of the company’s stock worth $398,241,000 after purchasing an additional 80,883 shares during the period. State Street Corp grew its position in Nuvalent by 4.2% during the second quarter. State Street Corp now owns 1,490,279 shares of the company’s stock valued at $113,708,000 after buying an additional 59,620 shares during the period. Braidwell LP increased its holdings in Nuvalent by 39.8% in the second quarter. Braidwell LP now owns 1,175,876 shares of the company’s stock valued at $89,719,000 after buying an additional 334,931 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Nuvalent by 11.6% in the second quarter. Geode Capital Management LLC now owns 996,845 shares of the company’s stock worth $76,067,000 after acquiring an additional 103,389 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Nuvalent by 45.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 577,500 shares of the company’s stock worth $44,063,000 after acquiring an additional 180,500 shares during the period. 97.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NUVL has been the topic of a number of analyst reports. Truist Financial set a $140.00 target price on Nuvalent in a research report on Monday, November 24th. Guggenheim raised 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. Robert W. Baird upped their target price on Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. UBS Group reiterated a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Fifteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nuvalent has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Insider Buying and Selling

In other news, insider Christopher Durant Turner sold 4,236 shares of the firm’s stock in a transaction dated 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 directly 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 filing with the SEC, which is available at this link. Also, insider Henry E. Pelish sold 2,664 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $97.17, for a total transaction of $258,860.88. Following the transaction, the insider owned 65,888 shares in the company, valued at $6,402,336.96. The trade was a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,463 shares of company stock worth $7,722,489 in the last ninety days. Company insiders own 10.20% of the company’s stock.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $102.67 on Thursday. The stock has a market capitalization of $7.47 billion, a P/E ratio of -17.55 and a beta of 1.32. The business has a 50 day simple moving average of $103.25 and a two-hundred day simple moving average of $95.69. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $113.01.

Nuvalent 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.