Aberdeen Group plc Increases Holdings in Nuvalent, Inc. $NUVL

Aberdeen Group plc raised its position in Nuvalent, Inc. (NASDAQ:NUVL) by 115.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,177 shares of the company’s stock after purchasing an additional 88,489 shares during the quarter. Aberdeen Group plc owned 0.23% of Nuvalent worth $16,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Candriam S.C.A. raised its position in Nuvalent by 9.4% in the 3rd quarter. Candriam S.C.A. now owns 329,721 shares of the company’s stock worth $28,514,000 after purchasing an additional 28,462 shares during the period. Voya Investment Management LLC raised its position in Nuvalent by 9.4% in the 3rd quarter. Voya Investment Management LLC now owns 134,742 shares of the company’s stock worth $11,652,000 after purchasing an additional 11,523 shares during the period. SG Americas Securities LLC bought a new position in Nuvalent in the 3rd quarter worth about $1,629,000. Hudson Bay Capital Management LP bought a new position in Nuvalent in the 3rd quarter worth about $1,297,000. Finally, Norges Bank bought a new position in Nuvalent in the 2nd quarter worth about $28,582,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NUVL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a research note on Thursday, January 22nd. Wells Fargo & Company initiated coverage on shares of Nuvalent in a research note on Monday, March 30th. They issued an “overweight” rating and a $116.00 target price on the stock. Cantor Fitzgerald upped their target price on shares of Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. UBS Group restated a “buy” rating on shares of Nuvalent in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Sixteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Nuvalent currently has a consensus rating of “Moderate Buy” and an average target price of $137.25.

Insiders Place Their Bets

In other Nuvalent news, insider Deborah Ann Miller sold 14,300 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total value of $1,575,288.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the completion of the transaction, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $8,998,926.93. This represents a 11.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,430 shares of company stock valued at $2,854,726. Corporate insiders own 10.20% of the company’s stock.

Nuvalent Stock Down 1.6%

NASDAQ:NUVL opened at $103.71 on Tuesday. Nuvalent, Inc. has a 52 week low of $55.53 and a 52 week high of $113.01. The firm has a 50 day moving average of $101.38 and a 200 day moving average of $99.41. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of -17.73 and a beta of 1.31.

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.