Nivalis Therapeutics Inc. (NASDAQ:NVLS) shares dropped 4% on Wednesday . The stock traded as low as $8.57 and last traded at $8.63, with a volume of 68,130 shares. The stock had previously closed at $8.99.

NVLS has been the topic of several recent analyst reports. Cowen and Company restated a “buy” rating on shares of Nivalis Therapeutics in a research note on Monday, August 1st. Zacks Investment Research upgraded shares of Nivalis Therapeutics from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Tuesday, July 12th. Piper Jaffray Cos. restated a “buy” rating and set a $16.00 price objective on shares of Nivalis Therapeutics in a research note on Tuesday, August 30th. HC Wainwright restated a “buy” rating on shares of Nivalis Therapeutics in a research note on Monday, August 8th. Finally, Raymond James Financial Inc. initiated coverage on shares of Nivalis Therapeutics in a research note on Tuesday, September 13th. They set an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.05.

The company has a 50 day moving average of $6.44 and a 200 day moving average of $4.99. The company’s market capitalization is $135.50 million.

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Nivalis Therapeutics (NASDAQ:NVLS) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.03. On average, analysts forecast that Nivalis Therapeutics Inc. will post ($2.29) earnings per share for the current fiscal year.

In other Nivalis Therapeutics news, CMO David Malcom Rodman sold 5,950 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $4.66, for a total value of $27,727.00. Following the transaction, the chief marketing officer now directly owns 18,055 shares of the company’s stock, valued at $84,136.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co purchased a new stake in shares of Nivalis Therapeutics during the second quarter valued at approximately $105,000. BVF Inc. IL increased its stake in shares of Nivalis Therapeutics by 24.5% in the second quarter. BVF Inc. IL now owns 1,926,443 shares of the company’s stock valued at $8,862,000 after buying an additional 379,700 shares in the last quarter. Opaleye Management Inc. increased its stake in shares of Nivalis Therapeutics by 160.0% in the second quarter. Opaleye Management Inc. now owns 260,000 shares of the company’s stock valued at $1,287,000 after buying an additional 160,000 shares in the last quarter. AXA increased its stake in shares of Nivalis Therapeutics by 35.4% in the second quarter. AXA now owns 533,692 shares of the company’s stock valued at $2,455,000 after buying an additional 139,652 shares in the last quarter. Finally, Sabby Management LLC increased its stake in shares of Nivalis Therapeutics by 31.5% in the first quarter. Sabby Management LLC now owns 662,058 shares of the company’s stock valued at $2,761,000 after buying an additional 158,463 shares in the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

About Nivalis Therapeutics

Nivalis Therapeutics, Inc is a clinical-stage pharmaceutical company. The Company discovers, develops and commercializes product candidates for patients with cystic fibrosis (CF). It focuses on utilizing its S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to develop therapeutics for other diseases.

5 Day Chart for NASDAQ:NVLS

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