Alexandra Balcom Sells 11,430 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the transaction, the chief financial officer owned 85,533 shares in the company, valued at approximately $10,570,168.14. The trade was a 11.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, June 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $98.69, for a total transaction of $1,128,026.70.

Nuvalent Stock Performance

Shares of Nuvalent stock opened at $123.77 on Wednesday. The company has a 50-day simple moving average of $110.40 and a two-hundred day simple moving average of $105.44. The stock has a market capitalization of $9.78 billion, a PE ratio of -20.42 and a beta of 1.14. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.83.

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

Institutional Investors Weigh In On Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Nuvalent by 141.3% in the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after purchasing an additional 195 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Nuvalent during the 4th quarter valued at $125,000. KBC Group NV boosted its holdings in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after buying an additional 297 shares during the period. Finally, US Bancorp DE raised its holdings in Nuvalent by 10.0% during the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after acquiring an additional 188 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on NUVL shares. Stifel Nicolaus set a $124.00 target price on Nuvalent in a report on Tuesday, June 9th. UBS Group downgraded Nuvalent from a “buy” rating to a “neutral” rating and lowered their price target for the company from $138.00 to $124.00 in a report on Wednesday, June 10th. Robert W. Baird set a $122.85 price objective on Nuvalent in a research report on Tuesday, June 9th. Guggenheim downgraded Nuvalent from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $151.00 to $124.00 in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group lowered Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.73.

Nuvalent Company 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.