Nuvalent, Inc. (NASDAQ:NUVL) Director Emily Conley Sells 3,334 Shares

Nuvalent, Inc. (NASDAQ:NUVL) Director Emily Conley sold 3,334 shares of Nuvalent stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.02, for a total value of $283,456.68. Following the transaction, the director now owns 2,507 shares in the company, valued at $213,145.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Emily Conley also recently made the following trade(s):

• On Monday, July 15th, Emily Conley sold 5,000 shares of Nuvalent stock. The shares were sold at an average price of $80.72, for a total value of $403,600.00.
• On Friday, June 14th, Emily Conley sold 5,000 shares of Nuvalent stock. The stock was sold at an average price of $77.56, for a total transaction of $387,800.00.

Nuvalent Trading Up 0.2 %

NASDAQ:NUVL traded up $0.14 during trading hours on Tuesday, hitting $84.28. 224,654 shares of the stock traded hands, compared to its average volume of 399,039. The firm has a 50 day moving average price of $76.79 and a 200 day moving average price of $75.57. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -34.97 and a beta of 1.28. Nuvalent, Inc. has a fifty-two week low of $39.86 and a fifty-two week high of $89.39.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same quarter in the previous year, the business earned ($0.51) earnings per share. Research analysts predict that Nuvalent, Inc. will post -3.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NUVL. Wedbush reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Nuvalent in a research note on Thursday, August 22nd. Lifesci Capital upgraded shares of Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus increased their price objective on Nuvalent from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $91.88.

Institutional Trading of Nuvalent

A number of hedge funds have recently made changes to their positions in NUVL. Darwin Global Management Ltd. raised its holdings in shares of Nuvalent by 2,390.5% during the first quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock worth $107,902,000 after acquiring an additional 1,379,266 shares in the last quarter. Vanguard Group Inc. increased its position in Nuvalent by 56.5% in the 4th quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after purchasing an additional 1,205,668 shares during the last quarter. Commodore Capital LP raised its stake in shares of Nuvalent by 60.6% during the 4th quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after purchasing an additional 502,259 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Nuvalent by 18.5% during the 4th quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock valued at $214,735,000 after buying an additional 454,540 shares during the last quarter. Finally, First Turn Management LLC acquired a new stake in shares of Nuvalent during the 4th quarter valued at about $18,831,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.