Henry Pelish Sells 3,093 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Henry Pelish sold 3,093 shares of Nuvalent stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $104.48, for a total transaction of $323,156.64. Following the completion of the transaction, the insider owned 65,604 shares in the company, valued at approximately $6,854,305.92. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Nuvalent Stock Performance

Nuvalent stock opened at $105.02 on Wednesday. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of -17.95 and a beta of 1.31. Nuvalent, Inc. has a 1 year low of $63.56 and a 1 year high of $113.01. The firm’s 50 day moving average price is $101.36 and its two-hundred day moving average price is $100.45.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NUVL. JPMorgan Chase & Co. decreased their price target on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Cantor Fitzgerald lifted their price target on shares of Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Wells Fargo & Company began coverage on shares of Nuvalent in a research report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price target on the stock. UBS Group restated a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Finally, Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Nuvalent in a research report on Wednesday, April 8th. Sixteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.25.

Institutional Investors Weigh In On Nuvalent

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Nuvalent by 47.6% during the 4th 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 period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nuvalent during the 3rd quarter valued at $38,000. Eastern Bank acquired a new stake in shares of Nuvalent during the 3rd quarter valued at $52,000. NBC Securities Inc. acquired a new stake in shares of Nuvalent during the 4th quarter valued at $125,000. Finally, KBC Group NV boosted its stake in shares of Nuvalent by 24.1% during the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.