Nuvalent (NASDAQ:NUVL – Get Free Report) released its earnings results on Tuesday. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.35), Briefing.com reports. During the same period in the prior year, the business earned ($0.59) earnings per share.
Nuvalent Stock Down 3.6 %
Shares of NASDAQ:NUVL opened at $90.99 on Wednesday. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -32.73 and a beta of 1.33. The business’s 50 day moving average is $97.05 and its 200 day moving average is $82.84. Nuvalent has a 12-month low of $55.33 and a 12-month high of $113.51.
Insider Buying and Selling at Nuvalent
In other news, CEO James Richard Porter sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $102.28, for a total value of $2,761,560.00. Following the transaction, the chief executive officer now owns 188,113 shares in the company, valued at $19,240,197.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Alexandra Balcom sold 10,000 shares of Nuvalent stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $84.23, for a total value of $842,300.00. Following the sale, the chief financial officer now owns 33,300 shares of the company’s stock, valued at approximately $2,804,859. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $102.28, for a total value of $2,761,560.00. Following the transaction, the chief executive officer now directly owns 188,113 shares of the company’s stock, valued at approximately $19,240,197.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,122,629 shares of company stock worth $207,180,508. Corporate insiders own 12.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on NUVL
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.
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