Nuvalent, Inc. (NASDAQ:NUVL) Given Consensus Rating of “Hold” by Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has earned a consensus recommendation of “Hold” from the twenty brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $127.7289.

Several brokerages have recently issued reports on NUVL. UBS Group cut Nuvalent from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $138.00 to $124.00 in a research note on Wednesday, June 10th. Guggenheim lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and cut their target price for the stock from $151.00 to $124.00 in a research note on Wednesday, June 10th. Lifesci Capital downgraded shares of Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target for the company. in a research note on Tuesday, June 9th. Canaccord Genuity Group cut shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Wedbush downgraded shares of Nuvalent from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $124.00 in a research report on Tuesday, June 9th.

Insider Activity

In other Nuvalent news, insider Henry E. 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 transaction of $261,362.91. Following the completion of the sale, the insider directly owned 63,493 shares of the company’s stock, valued at $7,861,068.33. The trade was a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $1,412,519.40. Following the transaction, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. This represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 125,971 shares of company stock worth $13,358,939. 5.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvalent

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Nuvalent by 47.6% in 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 raised its holdings 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 purchasing an additional 195 shares in the last quarter. NBC Securities Inc. acquired a new stake in Nuvalent during the fourth quarter worth approximately $125,000. KBC Group NV lifted its position in shares of Nuvalent by 24.1% during 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 last quarter. Finally, US Bancorp DE lifted its position in shares of Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Stock Performance

Nuvalent stock opened at $123.96 on Monday. The firm has a market capitalization of $9.79 billion, a P/E ratio of -20.46 and a beta of 1.14. Nuvalent has a twelve month low of $71.13 and a twelve month high of $123.99. The stock’s fifty day simple moving average is $113.85 and its 200-day simple moving average is $106.55.

Nuvalent (NASDAQ:NUVL) last released its 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 previous year, the firm posted ($1.18) earnings per share. Sell-side analysts predict that Nuvalent will post -5.74 earnings per share for the current year.

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.