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

Nuvalent, Inc. (NASDAQ:NUVL) has earned an average recommendation of “Hold” from the twenty ratings firms that are covering the company, Marketbeat reports. One equities research 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 12 month price objective among analysts that have updated their coverage on the stock in the last year is $127.7289.

NUVL has been the topic of several recent analyst reports. Sanford C. Bernstein lowered Nuvalent from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $172.00 to $124.00 in a report on Wednesday. UBS Group lowered Nuvalent from a “buy” rating to a “neutral” rating and dropped their target price for the company from $138.00 to $124.00 in a report on Wednesday, June 10th. Raymond James Financial lowered Nuvalent from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Cantor Fitzgerald lowered Nuvalent from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. Finally, TD Cowen lowered Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 target price on the stock. in a report on Tuesday, June 9th.

Insiders Place Their Bets

In related news, insider Henry E. Pelish sold 3,093 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $104.48, for a total value of $323,156.64. Following the transaction, the insider owned 65,604 shares of the company’s stock, valued at $6,854,305.92. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total value of $593,120.00. Following the completion of the transaction, the insider directly owned 59,634 shares in the company, valued at $6,430,930.56. This trade represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 126,953 shares of company stock worth $12,612,264. 5.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvalent

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Nuvalent by 13.9% in the fourth 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 in the last quarter. Wellington Management Group LLP boosted its stake in Nuvalent by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company’s stock valued at $247,635,000 after acquiring an additional 160,958 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Nuvalent by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock valued at $221,826,000 after acquiring an additional 545,542 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Nuvalent by 18.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company’s stock valued at $215,962,000 after acquiring an additional 336,518 shares in the last quarter. Finally, RA Capital Management L.P. boosted its stake in Nuvalent by 50.8% in the fourth quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company’s stock valued at $189,115,000 after acquiring an additional 633,601 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Trading Up 0.1%

Nuvalent stock opened at $123.58 on Thursday. Nuvalent has a twelve month low of $71.13 and a twelve month high of $123.69. The stock’s fifty day simple moving average is $107.30 and its 200-day simple moving average is $104.28. The firm has a market capitalization of $9.76 billion, a P/E ratio of -20.39 and a beta of 1.15.

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