Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has been given an average rating of “Moderate Buy” by the sixteen analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and fifteen have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $138.3333.

Several research analysts have commented on NUVL shares. Stifel Nicolaus lifted their target price on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, November 17th. The Goldman Sachs Group raised their price objective on Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Wedbush reiterated an “outperform” rating and issued a $125.00 target price (up from $120.00) on shares of Nuvalent in a report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a report on Thursday, January 22nd. Finally, Piper Sandler boosted their target price on Nuvalent from $112.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, October 27th.

Nuvalent Stock Performance

NUVL stock opened at $104.06 on Friday. The company has a market capitalization of $7.57 billion, a P/E ratio of -19.56 and a beta of 1.32. The company has a fifty day moving average price of $103.49 and a 200-day moving average price of $93.92. Nuvalent has a 52-week low of $55.53 and a 52-week high of $113.01.

Insider Activity

In other Nuvalent news, CFO Alexandra Balcom sold 7,084 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $110.32, for a total transaction of $781,506.88. Following the completion of the sale, the chief financial officer directly owned 54,650 shares of the company’s stock, valued at approximately $6,028,988. The trade was a 11.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Deborah Ann Miller sold 14,300 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $110.16, for a total value of $1,575,288.00. Following the completion of the sale, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $6,569,281.44. This trade represents a 19.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 826,537 shares of company stock valued at $79,414,026. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuvalent

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in 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 in the last quarter. Kennedy Capital Management LLC raised its position in Nuvalent by 1.5% in the 4th quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock worth $1,100,000 after purchasing an additional 163 shares during the period. US Bancorp DE increased its holdings in shares of Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after buying an additional 188 shares during the period. Arizona State Retirement System lifted its position in Nuvalent by 1.9% in the third quarter. Arizona State Retirement System now owns 11,778 shares of the company’s stock valued at $1,019,000 after purchasing an additional 220 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Nuvalent by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 3,290 shares of the company’s stock valued at $285,000 after buying an additional 234 shares during the period. Institutional investors own 97.26% of the company’s stock.

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.