FY2029 EPS Estimates for Nuvalent Decreased by HC Wainwright

Nuvalent, Inc. (NASDAQ:NUVL) – HC Wainwright cut their FY2029 earnings per share estimates for shares of Nuvalent in a research note issued to investors on Monday, March 2nd. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings of $6.52 per share for the year, down from their previous forecast of $6.77. HC Wainwright currently has a “Buy” rating and a $155.00 price objective on the stock. The consensus estimate for Nuvalent’s current full-year earnings is ($3.86) per share.

Other research analysts also recently issued research reports about the stock. Truist Financial set a $140.00 price objective on shares of Nuvalent in a research report on Monday, November 24th. Leerink Partners lifted their price target on Nuvalent from $140.00 to $149.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. UBS Group reissued a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Robert W. Baird raised their price objective on Nuvalent from $112.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. reduced their target price on Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nuvalent currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

Nuvalent Trading Up 2.4%

Shares of NUVL opened at $102.67 on Wednesday. The company’s fifty day simple moving average is $103.25 and its 200 day simple moving average is $95.69. Nuvalent has a 1-year low of $55.53 and a 1-year high of $113.01. The company has a market cap of $7.47 billion, a price-to-earnings ratio of -17.55 and a beta of 1.32.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, CEO James Richard Porter sold 9,543 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total transaction of $927,197.88. Following the transaction, the chief executive officer owned 278,629 shares in the company, valued at $27,071,593.64. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexandra Balcom sold 3,181 shares of Nuvalent stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total value of $309,065.96. Following the sale, the chief financial officer directly owned 81,733 shares of the company’s stock, valued at $7,941,178.28. This represents a 3.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 76,463 shares of company stock worth $7,722,489 in the last 90 days. Company insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Nuvalent

A number of hedge funds have recently bought and sold shares of NUVL. RA Capital Management L.P. bought a new stake in Nuvalent in the 3rd quarter valued at about $107,794,000. Wellington Management Group LLP grew its position in Nuvalent by 46.0% during the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after buying an additional 724,491 shares in the last quarter. Vanguard Group Inc. increased its stake in Nuvalent by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after acquiring an additional 639,264 shares during the period. Norges Bank bought a new position in Nuvalent during the 4th quarter worth $57,763,000. Finally, JPMorgan Chase & Co. raised its holdings in Nuvalent by 32.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock valued at $221,826,000 after acquiring an additional 545,542 shares in the last quarter. 97.26% of the stock is owned by institutional investors.

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.