Hudson Bay Capital Management LP Purchases New Stake in Nuvalent, Inc. $NUVL

Hudson Bay Capital Management LP acquired a new position in Nuvalent, Inc. (NASDAQ:NUVL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $1,297,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Nuvalent during the 3rd quarter worth $38,000. Eastern Bank purchased a new stake in Nuvalent during the third quarter worth about $52,000. PNC Financial Services Group Inc. boosted its holdings in Nuvalent by 38.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,632 shares of the company’s stock worth $125,000 after buying an additional 451 shares in the last quarter. Compass Wealth Management LLC acquired a new position in Nuvalent during the third quarter worth about $172,000. Finally, US Bancorp DE increased its holdings in Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Price Performance

Shares of NASDAQ NUVL opened at $94.77 on Monday. The company has a 50-day simple moving average of $102.53 and a 200-day simple moving average of $97.81. The company has a market cap of $7.45 billion, a PE ratio of -16.20 and a beta of 1.32. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $113.01.

Insider Transactions at Nuvalent

In related news, insider Deborah Ann Miller sold 14,300 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total transaction of $1,575,288.00. Following the completion of the transaction, the insider owned 59,634 shares of the company’s stock, valued at approximately $6,569,281.44. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Durant Turner sold 3,181 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total transaction of $309,065.96. Following the sale, the insider directly owned 55,130 shares of the company’s stock, valued at $5,356,430.80. This represents a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 69,379 shares of company stock valued at $6,940,982 in the last quarter. Insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NUVL. Truist Financial set a $140.00 price target on shares of Nuvalent in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research note on Thursday, January 22nd. Cantor Fitzgerald boosted their target price on Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. UBS Group reissued a “buy” rating on shares of Nuvalent in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. dropped their price target on Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nuvalent presently has an average rating of “Moderate Buy” and an average target price of $138.67.

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.