6,948 Shares in Nuvalent, Inc. $NUVL Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Nuvalent, Inc. (NASDAQ:NUVL) during the 4th quarter, Holdings Channel reports. The fund acquired 6,948 shares of the company’s stock, valued at approximately $709,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings 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 during the last quarter. NBC Securities Inc. bought a new stake in shares of Nuvalent during the 4th quarter valued at approximately $125,000. KBC Group NV grew its holdings in shares of Nuvalent by 24.1% during the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after purchasing an additional 297 shares during the last quarter. Portland Investment Counsel Inc. acquired a new position in Nuvalent during the 4th quarter worth approximately $201,000. Finally, Swiss Life Asset Management Ltd acquired a new position in Nuvalent during the 4th quarter worth approximately $202,000. Institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Performance

NUVL stock opened at $123.96 on Thursday. The company has a market capitalization of $9.79 billion, a P/E ratio of -20.46 and a beta of 1.14. The company has a fifty day moving average price of $113.04 and a 200-day moving average price of $106.26. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.99.

Nuvalent (NASDAQ:NUVL) last issued 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 in the prior year, the company earned ($1.18) EPS. As a group, sell-side analysts forecast that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $107.84, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Richard Porter sold 30,000 shares of Nuvalent 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 directly owned 324,879 shares in the company, valued at approximately $33,036,945.51. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 125,971 shares of company stock valued at $13,358,939 over the last 90 days. 5.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NUVL. UBS Group lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and cut their target price for the company from $138.00 to $124.00 in a research report on Wednesday, June 10th. Cantor Fitzgerald downgraded shares of Nuvalent from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. TD Cowen cut Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. 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 report on Tuesday, June 9th. Finally, Wedbush lowered Nuvalent from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $124.00 in a research report on Tuesday, June 9th. Four equities research 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. According to MarketBeat.com, Nuvalent has an average rating of “Hold” and a consensus target price of $127.73.

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.