Nuvalent, Inc. (NASDAQ:NUVL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $140.2941.

Several brokerages recently weighed in on NUVL. Cantor Fitzgerald increased their price objective on Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Nuvalent in a research report on Thursday. Wells Fargo & Company began coverage on Nuvalent in a research report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $155.00 price objective on shares of Nuvalent in a research report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st.

Insiders Place Their Bets

In related news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total value of $1,202,550.30. Following the completion of the transaction, the chief financial officer directly owned 85,533 shares in the company, valued at approximately $8,998,926.93. This represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Richard Porter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00. Following the completion of the transaction, the chief executive officer owned 324,879 shares of the company’s stock, valued at $33,036,945.51. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 80,023 shares of company stock valued at $8,235,217. 5.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Nuvalent by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after buying an additional 639,264 shares during the period. Wellington Management Group LLP boosted its position in shares of Nuvalent by 7.0% during the fourth quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company’s stock worth $247,635,000 after buying an additional 160,958 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Nuvalent by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after buying an additional 545,542 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Nuvalent by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company’s stock worth $215,962,000 after buying an additional 336,518 shares during the period. Finally, RA Capital Management L.P. boosted its position in shares of Nuvalent by 50.8% during the fourth quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company’s stock worth $189,115,000 after buying an additional 633,601 shares during the period. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $110.39 on Friday. Nuvalent has a one year low of $70.25 and a one year high of $113.01. The stock has a market cap of $8.72 billion, a PE ratio of -18.22 and a beta of 1.15. The stock has a 50 day moving average price of $103.03 and a 200 day moving average price of $103.24.

Nuvalent (NASDAQ:NUVL) last posted its quarterly 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 quarter in the previous year, the business earned ($1.18) earnings per share. As a group, analysts predict that Nuvalent will post -5.74 earnings per share for the current fiscal year.

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.