Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 5,500 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $107.84, for a total transaction of $593,120.00. Following the transaction, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $6,430,930.56. This trade represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, April 30th, Deborah Ann Miller sold 5,500 shares of Nuvalent stock. The shares were sold at an average price of $99.22, for a total transaction of $545,710.00.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $93.01 on Tuesday. The business has a 50-day moving average of $102.94 and a 200 day moving average of $103.29. Nuvalent, Inc. has a 12 month low of $71.13 and a 12 month high of $113.01. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of -15.35 and a beta of 1.15.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter in the prior year, the business earned ($1.18) earnings per share. Equities research analysts anticipate that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Nuvalent by 20.0% during the 1st quarter. Bank of America Corp DE now owns 216,516 shares of the company’s stock valued at $22,182,000 after buying an additional 36,147 shares during the period. Tri Locum Partners LP grew its position in Nuvalent by 0.4% in the 1st quarter. Tri Locum Partners LP now owns 308,506 shares of the company’s stock worth $31,606,000 after purchasing an additional 1,135 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Nuvalent by 141.3% during the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after buying an additional 195 shares in the last quarter. California State Teachers Retirement System lifted its position in Nuvalent by 29.7% in the first quarter. California State Teachers Retirement System now owns 49,670 shares of the company’s stock worth $5,089,000 after purchasing an additional 11,386 shares during the period. Finally, Royal Bank of Canada raised its position in Nuvalent by 1,537.9% in the first quarter. Royal Bank of Canada now owns 23,569 shares of the company’s stock worth $2,414,000 after purchasing an additional 22,130 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUVL has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Nuvalent in a report on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Wedbush restated an “outperform” rating and set a $125.00 target price on shares of Nuvalent in a research report on Thursday, May 28th. Sanford C. Bernstein assumed coverage on shares of Nuvalent in a report on Thursday, May 21st. They set an “outperform” rating and a $189.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price target on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.29.

About Nuvalent

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.