Nuvalent, Inc. (NASDAQ:NUVL) Given Average Rating of “Moderate Buy” by Analysts

Nuvalent, Inc. (NASDAQ:NUVL) has earned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $138.6667.

NUVL has been the subject of a number of recent analyst reports. Cantor Fitzgerald upped their target price on Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Robert W. Baird lifted their price target on shares of Nuvalent from $112.00 to $158.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Wedbush reissued an “outperform” rating and set a $125.00 price objective (up from $120.00) on shares of Nuvalent in a research report on Monday, November 17th. UBS Group restated a “buy” rating on shares of Nuvalent in a report on Wednesday, December 17th. Finally, Barclays set a $152.00 target price on shares of Nuvalent in a research report on Monday, November 17th.

Nuvalent Stock Performance

NASDAQ NUVL opened at $99.53 on Tuesday. The stock has a market cap of $7.24 billion, a P/E ratio of -17.01 and a beta of 1.32. Nuvalent has a fifty-two week low of $55.53 and a fifty-two week high of $113.01. The stock has a 50 day simple moving average of $103.00 and a two-hundred day simple moving average of $97.25.

Insider Buying and Selling

In other Nuvalent news, insider Henry E. Pelish sold 2,664 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $97.17, for a total value of $258,860.88. Following the completion of the sale, the insider directly owned 65,888 shares in the company, valued at $6,402,336.96. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Richard Porter sold 17,890 shares of Nuvalent 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 $1,741,054.80. Following the sale, the chief executive officer directly owned 288,172 shares in the company, valued at approximately $28,044,899.04. The trade was a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 69,379 shares of company stock valued at $6,940,982 over the last quarter. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Nuvalent during the 3rd quarter valued at $38,000. Eastern Bank purchased a new stake in shares of Nuvalent in the 3rd quarter worth about $52,000. NBC Securities Inc. bought a new position in shares of Nuvalent in the 4th quarter worth about $125,000. Finally, KBC Group NV increased its stake in shares of Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after acquiring an additional 297 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other 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.