Affinity Asset Advisors LLC Has $30.73 Million Holdings in Nuvalent, Inc. $NUVL

Affinity Asset Advisors LLC cut its holdings in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the company’s stock after selling 22,633 shares during the quarter. Nuvalent accounts for 1.6% of Affinity Asset Advisors LLC’s holdings, making the stock its 18th largest position. Affinity Asset Advisors LLC’s holdings in Nuvalent were worth $30,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NUVL. RA Capital Management L.P. bought a new position in Nuvalent during the 3rd quarter worth $107,794,000. Wellington Management Group LLP lifted its position in shares of Nuvalent by 46.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after acquiring an additional 724,491 shares during the period. Vanguard Group Inc. lifted its position in shares of Nuvalent by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after acquiring an additional 639,264 shares during the period. Norges Bank acquired a new stake in shares of Nuvalent during the 4th quarter worth $57,763,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Nuvalent by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after purchasing an additional 545,542 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Nuvalent Stock Performance

Shares of NUVL opened at $123.96 on Friday. Nuvalent, Inc. has a 52 week low of $71.13 and a 52 week high of $123.99. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. The stock has a fifty day moving average of $115.86 and a 200-day moving average of $107.33.

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

Insider Transactions at Nuvalent

In other news, insider Deborah Ann Miller sold 5,500 shares of the business’s 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 sale, the insider directly owned 59,634 shares in the company, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Richard Porter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $123.72, for a total transaction of $3,711,600.00. Following the completion of the transaction, the chief executive officer owned 324,879 shares of the company’s stock, valued at approximately $40,194,029.88. This trade represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 125,971 shares of company stock valued at $13,358,939. 5.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NUVL has been the subject of a number of analyst reports. TD Cowen downgraded Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Nuvalent to a “sell” rating in a report on Saturday, July 18th. Stifel Nicolaus set a $124.00 target price on shares of Nuvalent in a report on Tuesday, June 9th. Guggenheim cut shares of Nuvalent from a “buy” rating to a “neutral” rating and dropped their target price for the company from $151.00 to $124.00 in a research report on Wednesday, June 10th. Finally, Sanford C. Bernstein downgraded shares of Nuvalent from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $172.00 to $124.00 in a report on Wednesday, June 24th. 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 MarketBeat, the company presently has an average 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.