Fisher Asset Management LLC Trims Stock Holdings in Nuvalent, Inc. $NUVL

Fisher Asset Management LLC lowered its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 5.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 100,706 shares of the company’s stock after selling 5,718 shares during the period. Fisher Asset Management LLC owned about 0.14% of Nuvalent worth $10,130,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after purchasing an additional 639,264 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Nuvalent by 46.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after purchasing an additional 724,491 shares in the last quarter. State Street Corp increased its stake in shares of Nuvalent by 4.2% in the 2nd quarter. State Street Corp now owns 1,490,279 shares of the company’s stock valued at $113,708,000 after purchasing an additional 59,620 shares in the last quarter. Commodore Capital LP increased its stake in shares of Nuvalent by 1.8% in the 3rd quarter. Commodore Capital LP now owns 1,400,000 shares of the company’s stock valued at $121,072,000 after purchasing an additional 25,000 shares in the last quarter. Finally, RA Capital Management L.P. purchased a new position in shares of Nuvalent in the 3rd quarter valued at about $107,794,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NUVL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. Sanford C. Bernstein started coverage on Nuvalent in a research note on Thursday, May 21st. They issued an “outperform” rating and a $189.00 price target for the company. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Nuvalent in a research note on Wednesday, April 8th. Wells Fargo & Company began coverage on Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $155.00 price objective on shares of Nuvalent in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nuvalent currently has a consensus rating of “Moderate Buy” and an average price target of $140.29.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $107.38 on Thursday. The stock has a market cap of $8.48 billion, a P/E ratio of -17.72 and a beta of 1.15. The stock’s 50 day simple moving average is $102.56 and its 200-day simple moving average is $103.08. Nuvalent, Inc. has a 1-year low of $70.25 and a 1-year high of $113.01.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm earned ($1.18) EPS. As a group, research analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Insider Activity

In other news, insider Henry E. Pelish sold 3,093 shares of Nuvalent stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total transaction of $323,156.64. Following the sale, the insider owned 65,604 shares of the company’s stock, valued at approximately $6,854,305.92. The trade was a 4.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $99.22, for a total transaction of $545,710.00. Following the sale, the insider directly owned 59,634 shares in the company, valued at approximately $5,916,885.48. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 80,023 shares of company stock worth $8,235,217 in the last 90 days. 5.02% of the stock is owned by corporate insiders.

Nuvalent Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.