Geode Capital Management LLC Raises Stock Holdings in Nuvalent, Inc. $NUVL

Geode Capital Management LLC raised its position in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,238,234 shares of the company’s stock after purchasing an additional 144,241 shares during the period. Geode Capital Management LLC owned 1.70% of Nuvalent worth $124,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Legato Capital Management LLC grew its holdings in Nuvalent by 71.8% during the fourth quarter. Legato Capital Management LLC now owns 21,732 shares of the company’s stock valued at $2,186,000 after purchasing an additional 9,081 shares during the period. PSP Research LLC bought a new position in Nuvalent during the fourth quarter valued at $529,000. Profund Advisors LLC boosted its holdings in shares of Nuvalent by 64.1% in the fourth quarter. Profund Advisors LLC now owns 17,536 shares of the company’s stock worth $1,764,000 after acquiring an additional 6,849 shares during the period. ProShare Advisors LLC grew its position in shares of Nuvalent by 26.7% in the fourth quarter. ProShare Advisors LLC now owns 12,318 shares of the company’s stock valued at $1,239,000 after purchasing an additional 2,595 shares in the last quarter. Finally, Swiss Life Asset Management Ltd purchased a new position in shares of Nuvalent in the fourth quarter valued at $202,000. 97.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

NUVL has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Nuvalent in a research report on Thursday, May 28th. 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 target for the company. HC Wainwright reissued a “buy” rating and set a $155.00 price objective on shares of Nuvalent in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein began coverage on Nuvalent in a research note on Thursday, May 21st. They set an “outperform” rating and a $189.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Insider Buying and Selling

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $98.69, for a total value of $1,128,026.70. Following the completion of the sale, the chief financial officer owned 85,533 shares in the company, valued at approximately $8,441,251.77. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $107.84, for a total value of $593,120.00. Following the transaction, the insider owned 59,634 shares of the company’s stock, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 96,953 shares of company stock valued at $9,956,364. Company insiders own 5.02% of the company’s stock.

Nuvalent Stock Down 3.3%

Shares of NUVL opened at $90.95 on Friday. The business’s 50 day moving average price is $102.57 and its 200-day moving average price is $103.11. Nuvalent, Inc. has a 52 week low of $71.13 and a 52 week high of $113.01. The stock has a market cap of $7.19 billion, a P/E ratio of -15.01 and a beta of 1.15.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter last year, the company earned ($1.18) earnings per share. On average, equities analysts anticipate that Nuvalent, Inc. will post -5.74 EPS 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.