Alexandra Balcom Sells 10,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $101.06, for a total value of $1,010,600.00. Following the completion of the sale, the chief financial officer now directly owns 33,300 shares in the company, valued at $3,365,298. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Friday, August 30th, Alexandra Balcom sold 10,000 shares of Nuvalent stock. The shares were sold at an average price of $84.23, for a total value of $842,300.00.
• On Wednesday, July 31st, Alexandra Balcom sold 10,000 shares of Nuvalent stock. The stock was sold at an average price of $79.51, for a total value of $795,100.00.

Nuvalent Trading Down 0.1 %

NUVL stock opened at $103.50 on Friday. Nuvalent, Inc. has a 1-year low of $41.45 and a 1-year high of $113.51. The business’s 50 day moving average is $85.62 and its 200-day moving average is $77.42. The firm has a market cap of $6.68 billion, a P/E ratio of -42.95 and a beta of 1.29.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same quarter last year, the business earned ($0.51) earnings per share. Sell-side analysts forecast that Nuvalent, Inc. will post -3.55 EPS for the current year.

Institutional Investors Weigh In On Nuvalent

Several large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Nuvalent in the second quarter valued at about $44,000. Amalgamated Bank raised its stake in shares of Nuvalent by 21.8% in the second quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after acquiring an additional 198 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Nuvalent in the 1st quarter worth approximately $121,000. Allspring Global Investments Holdings LLC grew its position in Nuvalent by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock worth $168,000 after acquiring an additional 189 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in Nuvalent during the 1st quarter worth approximately $202,000. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUVL shares. The Goldman Sachs Group upgraded shares of Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. Wedbush boosted their price objective on shares of Nuvalent from $99.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Stifel Nicolaus increased their target price on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Guggenheim lifted their target price on Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, BMO Capital Markets upped their price target on Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.00.

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.