Deborah Ann Miller Sells 3,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $73.60, for a total value of $220,800.00. Following the completion of the sale, the insider now owns 33,300 shares in the company, valued at approximately $2,450,880. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, March 28th, Deborah Ann Miller sold 22,000 shares of Nuvalent stock. The shares were sold at an average price of $75.20, for a total transaction of $1,654,400.00.

Nuvalent Trading Down 2.4 %

NUVL stock opened at $70.20 on Friday. The stock has a market cap of $4.50 billion, a P/E ratio of -32.50 and a beta of 1.29. Nuvalent, Inc. has a twelve month low of $23.09 and a twelve month high of $89.39. The company’s 50 day moving average is $80.74 and its two-hundred day moving average is $69.35.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). On average, equities research analysts predict that Nuvalent, Inc. will post -2.93 earnings per share for the current year.

Analysts Set New Price Targets

NUVL has been the subject of several recent research reports. BMO Capital Markets raised their price target on shares of Nuvalent from $93.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their target price on Nuvalent from $68.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Leerink Partnrs upgraded Nuvalent from a “market perform” rating to an “outperform” rating in a report on Monday, April 1st. Guggenheim began coverage on Nuvalent in a research note on Wednesday, February 28th. They issued a “buy” rating and a $99.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $99.00 target price on shares of Nuvalent in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NUVL. Hudson Bay Capital Management LP raised its holdings in shares of Nuvalent by 43.2% in the third quarter. Hudson Bay Capital Management LP now owns 42,955 shares of the company’s stock valued at $1,975,000 after buying an additional 12,955 shares during the last quarter. New York State Common Retirement Fund raised its stake in Nuvalent by 49.8% during the 3rd quarter. New York State Common Retirement Fund now owns 20,207 shares of the company’s stock valued at $929,000 after acquiring an additional 6,714 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Nuvalent by 18.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 95,715 shares of the company’s stock worth $4,400,000 after acquiring an additional 15,197 shares during the period. Invesco Ltd. lifted its position in Nuvalent by 51.2% during the 3rd quarter. Invesco Ltd. now owns 208,687 shares of the company’s stock worth $9,593,000 after acquiring an additional 70,673 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Nuvalent by 196.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 197,986 shares of the company’s stock valued at $9,101,000 after purchasing an additional 131,296 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.