James Richard Porter Sells 30,000 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $123.72, for a total value of $3,711,600.00. Following the sale, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at $40,194,029.88. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

James Richard Porter also recently made the following trade(s):

• On Monday, June 8th, James Richard Porter sold 30,000 shares of Nuvalent stock. The shares were sold at an average price of $88.53, for a total transaction of $2,655,900.00.
• On Monday, May 4th, James Richard Porter sold 30,000 shares of Nuvalent stock. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00.

Nuvalent Stock Up 0.0%

Shares of NUVL opened at $123.83 on Friday. Nuvalent, Inc. has a 52 week low of $71.13 and a 52 week high of $123.86. The stock’s 50-day moving average price is $111.23 and its 200-day moving average price is $105.74. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of -20.43 and a beta of 1.14.

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

Institutional Investors Weigh In On Nuvalent

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Nuvalent by 1.5% in the fourth quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock valued at $1,100,000 after acquiring an additional 163 shares in the last quarter. US Bancorp DE boosted its holdings in Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after purchasing an additional 188 shares during the period. EverSource Wealth Advisors LLC grew its stake in Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after purchasing an additional 195 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its stake in Nuvalent by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock worth $477,000 after purchasing an additional 253 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wedbush downgraded shares of Nuvalent from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $124.00 in a report on Tuesday, June 9th. Raymond James Financial lowered Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $124.00 target price (up from $116.00) on shares of Nuvalent in a report on Tuesday, June 9th. Barclays reiterated an “equal weight” rating and set a $124.00 price target (down from $152.00) on shares of Nuvalent in a report on Tuesday, June 9th. Finally, HC Wainwright cut shares of Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price objective for the company. in a research report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $127.73.

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.