Nuvalent, Inc. $NUVL Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC cut its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,585 shares of the company’s stock after selling 7,273 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.50% of Nuvalent worth $31,356,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in Nuvalent in the third quarter worth approximately $38,000. Eastern Bank acquired a new position in shares of Nuvalent during the 3rd quarter valued at $52,000. Persistent Asset Partners Ltd acquired a new position in shares of Nuvalent during the 2nd quarter valued at $88,000. PNC Financial Services Group Inc. raised its stake in shares of Nuvalent by 38.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,632 shares of the company’s stock worth $125,000 after buying an additional 451 shares in the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in shares of Nuvalent in the third quarter valued at $172,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Activity

In other news, CEO James Richard Porter sold 9,543 shares of Nuvalent stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the transaction, the chief executive officer directly owned 278,629 shares of the company’s stock, valued at $27,071,593.64. This trade represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alexandra Balcom sold 3,181 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total transaction of $309,065.96. Following the sale, the chief financial officer owned 81,733 shares in the company, valued at $7,941,178.28. This represents a 3.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 69,379 shares of company stock worth $6,940,982. 10.20% of the stock is owned by company insiders.

Nuvalent Stock Down 0.1%

Shares of Nuvalent stock opened at $97.93 on Friday. The stock’s fifty day moving average is $102.97 and its 200-day moving average is $96.94. The firm has a market capitalization of $7.12 billion, a PE ratio of -16.74 and a beta of 1.32. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $113.01.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NUVL shares. Robert W. Baird raised their target price on Nuvalent from $112.00 to $158.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Cantor Fitzgerald boosted 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. Leerink Partners upped their price target on shares of Nuvalent from $140.00 to $149.00 and gave the company an “outperform” rating in a report on Monday, November 17th. JPMorgan Chase & Co. reduced their price objective on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Finally, HC Wainwright lifted their price objective on shares of Nuvalent from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Fifteen 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, the company presently has an average rating of “Moderate Buy” and an average price target of $138.67.

Nuvalent 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.