Candriam S.C.A. Raises Position in Nuvalent, Inc. $NUVL

Candriam S.C.A. boosted its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 391,306 shares of the company’s stock after purchasing an additional 33,293 shares during the period. Candriam S.C.A. owned approximately 0.50% of Nuvalent worth $40,089,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NUVL. AQR Capital Management LLC grew its stake in shares of Nuvalent by 64.8% during the first quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after buying an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Nuvalent by 54.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after acquiring an additional 159,873 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Nuvalent by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after acquiring an additional 12,123 shares during the period. Intech Investment Management LLC boosted its holdings in Nuvalent by 28.7% during the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after acquiring an additional 4,293 shares during the period. Finally, Prudential Financial Inc. bought a new position in Nuvalent during the 2nd quarter worth approximately $412,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NUVL. Raymond James Financial cut Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Barclays reissued an “equal weight” rating and set a $124.00 price objective (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Canaccord Genuity Group cut shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Sanford C. Bernstein downgraded shares of Nuvalent from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $172.00 to $124.00 in a research note on Wednesday, June 24th. Finally, TD Cowen lowered shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $127.73.

Nuvalent Price Performance

NUVL opened at $123.90 on Friday. The business has a 50 day simple moving average of $111.72 and a two-hundred day simple moving average of $105.87. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.45 and a beta of 1.14. Nuvalent, Inc. has a one year low of $71.13 and a one year high of $123.91.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period last year, the firm posted ($1.18) earnings per share. As a group, sell-side analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the sale, the chief financial officer owned 85,533 shares of the company’s stock, valued at $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Henry E. Pelish sold 2,111 shares of Nuvalent stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $123.81, for a total transaction of $261,362.91. Following the completion of the sale, the insider owned 63,493 shares in the company, valued at approximately $7,861,068.33. This trade represents a 3.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 125,971 shares of company stock worth $13,358,939. Insiders own 5.02% of the company’s stock.

Nuvalent 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.