Nuvalent (NASDAQ:NUVL) Earns Neutral Rating from Analysts at UBS Group

Stock analysts at UBS Group started coverage on shares of Nuvalent (NASDAQ:NUVL) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set a “neutral” rating and a $100.00 price target on the stock. UBS Group’s target price points to a potential upside of 6.71% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised shares of Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. BMO Capital Markets increased their price target on shares of Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Barclays began coverage on Nuvalent in a report on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, Wedbush increased their price objective on Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.40.

Nuvalent Price Performance

Shares of NUVL stock opened at $93.71 on Thursday. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -33.71 and a beta of 1.29. The company’s fifty day simple moving average is $93.61 and its two-hundred day simple moving average is $80.10. Nuvalent has a 1 year low of $49.02 and a 1 year high of $113.51.

Nuvalent (NASDAQ:NUVL) last announced 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 prior year, the firm posted ($0.51) earnings per share. Equities research analysts anticipate that Nuvalent will post -3.52 EPS for the current year.

Insider Transactions at Nuvalent

In related news, insider Deborah Ann Miller sold 3,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $68.78, for a total value of $206,340.00. Following the sale, the insider now directly owns 33,300 shares of the company’s stock, valued at $2,290,374. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Alexandra Balcom sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $79.51, for a total transaction of $795,100.00. Following the sale, the chief financial officer now directly owns 33,300 shares of the company’s stock, valued at $2,647,683. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Deborah Ann Miller sold 3,000 shares of Nuvalent stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $68.78, for a total value of $206,340.00. Following the completion of the sale, the insider now directly owns 33,300 shares of the company’s stock, valued at $2,290,374. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,629 shares of company stock valued at $12,151,868. Corporate insiders own 12.52% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Nuvalent during the 2nd quarter valued at $44,000. Amalgamated Bank increased its stake in Nuvalent by 21.8% in the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock worth $84,000 after buying an additional 198 shares in the last quarter. SG Americas Securities LLC bought a new stake in Nuvalent during the first quarter valued at about $121,000. Allspring Global Investments Holdings LLC raised its holdings in Nuvalent by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock valued at $168,000 after acquiring an additional 189 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Nuvalent in the first quarter valued at about $202,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

About Nuvalent

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.