Evergreen Capital Management LLC Purchases New Position in Nuvalent, Inc. $NUVL

Evergreen Capital Management LLC purchased a new stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 8,584 shares of the company’s stock, valued at approximately $863,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUVL. AQR Capital Management LLC grew its holdings in shares of Nuvalent by 64.8% during the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after purchasing an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Nuvalent by 54.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after purchasing an additional 159,873 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nuvalent by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after purchasing an additional 12,123 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Nuvalent by 28.7% during the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after purchasing an additional 4,293 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Nuvalent during the 2nd quarter valued at approximately $412,000. 97.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NUVL shares. Wells Fargo & Company started coverage on shares of Nuvalent in a report on Monday, March 30th. They set an “overweight” rating and a $116.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Nuvalent in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Nuvalent in a report on Wednesday, April 8th. Finally, Cantor Fitzgerald lifted their target price 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. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $137.25.

Insider Buying and Selling

In related news, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the sale, the chief financial officer directly owned 85,533 shares in the company, valued at $8,998,926.93. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $103.77, for a total transaction of $3,113,100.00. Following the sale, the chief executive officer owned 324,879 shares in the company, valued at approximately $33,712,693.83. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,523 shares of company stock worth $4,638,807 in the last ninety days. Company insiders own 10.20% of the company’s stock.

Nuvalent Price Performance

NASDAQ:NUVL opened at $104.50 on Friday. The firm’s 50 day simple moving average is $102.03 and its 200 day simple moving average is $101.47. Nuvalent, Inc. has a one year low of $63.56 and a one year high of $113.01. The company has a market cap of $8.22 billion, a PE ratio of -17.86 and a beta of 1.31.

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.