Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nuvalent, Inc. (NASDAQ:NUVL) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $138.3333.

Several research analysts have weighed in on NUVL shares. Truist Financial set a $140.00 price objective on Nuvalent in a research report on Monday, November 24th. Guggenheim lifted their target price on Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Wedbush reissued an “outperform” rating and issued a $125.00 price target (up from $120.00) on shares of Nuvalent in a report on Monday, November 17th. JPMorgan Chase & Co. reduced their price target on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Finally, Barclays set a $152.00 price objective on shares of Nuvalent in a research report on Monday, November 17th.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $106.44 on Monday. Nuvalent has a 52 week low of $55.53 and a 52 week high of $113.01. The firm has a 50-day moving average price of $105.12 and a two-hundred day moving average price of $91.22. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -20.01 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same period in the previous year, the firm posted ($1.28) earnings per share. As a group, sell-side analysts forecast that Nuvalent will post -3.86 earnings per share for the current year.

Insider Activity at Nuvalent

In other Nuvalent news, insider Christopher Durant Turner sold 3,181 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total value of $309,065.96. Following the completion of the sale, the insider directly owned 55,130 shares of the company’s stock, valued at $5,356,430.80. This trade represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Richard Porter sold 9,543 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the completion of the sale, the chief executive officer owned 278,629 shares in the company, valued at approximately $27,071,593.64. The trade was a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 934,875 shares of company stock worth $90,453,154 over the last 90 days. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NUVL. Vanguard Group Inc. raised its stake in Nuvalent by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,605,007 shares of the company’s stock valued at $398,241,000 after acquiring an additional 80,883 shares during the period. Wellington Management Group LLP boosted its position in Nuvalent by 46.0% during the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after purchasing an additional 724,491 shares during the period. State Street Corp increased its stake in shares of Nuvalent by 4.2% in the second quarter. State Street Corp now owns 1,490,279 shares of the company’s stock worth $113,708,000 after purchasing an additional 59,620 shares in the last quarter. Commodore Capital LP increased its stake in shares of Nuvalent by 1.8% in the third quarter. Commodore Capital LP now owns 1,400,000 shares of the company’s stock worth $121,072,000 after purchasing an additional 25,000 shares in the last quarter. Finally, RA Capital Management L.P. bought a new stake in shares of Nuvalent in the third quarter valued at approximately $107,794,000. Institutional investors own 97.26% of the company’s stock.

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.