Affinity Asset Advisors LLC Has $30.73 Million Stock Holdings in Nuvalent, Inc. $NUVL

Affinity Asset Advisors LLC reduced its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 7.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 300,000 shares of the company’s stock after selling 22,633 shares during the period. Nuvalent makes up approximately 1.6% of Affinity Asset Advisors LLC’s holdings, making the stock its 18th biggest holding. Affinity Asset Advisors LLC owned 0.38% of Nuvalent worth $30,735,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Nuvalent by 64.8% during the first quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock worth $700,000 after acquiring an additional 3,881 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Nuvalent by 54.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock worth $32,171,000 after purchasing an additional 159,873 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Nuvalent by 8.8% in 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 period. Intech Investment Management LLC raised its stake in shares of Nuvalent by 28.7% in 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 period. Finally, Prudential Financial Inc. bought a new stake in shares of Nuvalent in the second quarter valued at about $412,000. Institutional investors own 97.26% of the company’s stock.

Analyst Ratings Changes

NUVL has been the subject of a number of research reports. TD Cowen downgraded Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price objective for the company. in a report on Tuesday, June 9th. Sanford C. Bernstein downgraded Nuvalent from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $172.00 to $124.00 in a research report on Wednesday, June 24th. Truist Financial cut shares of Nuvalent from a “buy” rating to a “hold” rating and decreased their price target for the stock from $140.00 to $124.00 in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of Nuvalent to a “sell” rating in a report on Saturday, July 18th. Finally, Canaccord Genuity Group lowered shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $127.73.

Insider Transactions at Nuvalent

In other news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the transaction, the chief financial officer owned 85,533 shares in the company, valued at approximately $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00. Following the sale, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at approximately $33,036,945.51. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 125,971 shares of company stock worth $13,358,939 in the last ninety days. 5.02% of the stock is currently owned by company insiders.

Nuvalent Stock Performance

NASDAQ NUVL opened at $123.96 on Friday. The firm has a 50-day moving average of $115.86 and a 200-day moving average of $107.33. The stock has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.99.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter last year, the business posted ($1.18) EPS. As a group, analysts predict that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

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.