Henry Pelish Sells 2,111 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Henry Pelish sold 2,111 shares of Nuvalent stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $123.81, for a total value of $261,362.91. Following the completion of the transaction, the insider directly owned 63,493 shares in the company, valued at $7,861,068.33. This represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nuvalent Price Performance

NASDAQ NUVL traded up $0.07 on Friday, hitting $123.90. 2,057,860 shares of the company were exchanged, compared to its average volume of 2,176,546. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $123.91. The firm has a market capitalization of $9.79 billion, a P/E ratio of -20.45 and a beta of 1.14. The company’s 50 day moving average price is $111.72 and its 200-day moving average price is $105.87.

Nuvalent (NASDAQ:NUVL) last announced its 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 period in the prior year, the business posted ($1.18) EPS. As a group, equities analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NUVL shares. Stifel Nicolaus set a $124.00 target price on Nuvalent in a report on Tuesday, June 9th. Cantor Fitzgerald cut Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Canaccord Genuity Group downgraded Nuvalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Robert W. Baird set a $122.85 price target on Nuvalent in a research report on Tuesday, June 9th. Finally, Barclays reissued an “equal weight” rating and issued a $124.00 price objective (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nuvalent has an average rating of “Hold” and a consensus target price of $127.73.

Institutional Investors Weigh In On Nuvalent

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Nuvalent by 141.3% during the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares during the last quarter. NBC Securities Inc. purchased a new position in Nuvalent in the fourth quarter valued at about $125,000. KBC Group NV increased its position 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 purchasing an additional 297 shares during the last quarter. Finally, US Bancorp DE increased its position in Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.