Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 14,300 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 14,300 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total transaction of $1,575,288.00. Following the completion of the sale, the insider directly owned 59,634 shares of the company’s stock, valued at $6,569,281.44. This represents a 19.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Deborah Ann Miller also recently made the following trade(s):

• On Wednesday, January 21st, Deborah Ann Miller sold 700 shares of Nuvalent stock. The stock was sold at an average price of $109.84, for a total transaction of $76,888.00.
• On Tuesday, January 6th, Deborah Ann Miller sold 2,589 shares of Nuvalent stock. The shares were sold at an average price of $97.16, for a total transaction of $251,547.24.
• On Monday, January 5th, Deborah Ann Miller sold 4,363 shares of Nuvalent stock. The stock was sold at an average price of $97.32, for a total transaction of $424,607.16.
• On Monday, November 17th, Deborah Ann Miller sold 24,200 shares of Nuvalent stock. The shares were sold at an average price of $105.50, for a total transaction of $2,553,100.00.
• On Thursday, October 30th, Deborah Ann Miller sold 21,800 shares of Nuvalent stock. The shares were sold at an average price of $103.16, for a total value of $2,248,888.00.

Nuvalent Stock Performance

Shares of Nuvalent stock opened at $106.44 on Friday. The stock has a 50 day moving average of $105.12 and a 200 day moving average of $91.07. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of -20.01 and a beta of 1.32. Nuvalent, Inc. has a fifty-two week low of $55.53 and a fifty-two week high of $113.01.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same quarter in the prior year, the firm posted ($1.28) earnings per share. Analysts forecast that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Canaccord Genuity Group began coverage on shares of Nuvalent in a research note on Wednesday, November 12th. They set a “buy” rating and a $126.00 target price for the company. Barclays set a $152.00 price objective on shares of Nuvalent in a report on Monday, November 17th. UBS Group reaffirmed a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Cantor Fitzgerald initiated coverage on Nuvalent in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $125.00 price target (up from $120.00) on shares of Nuvalent in a research note on Monday, November 17th. Fifteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Institutional Investors Weigh In On Nuvalent

A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of Nuvalent by 24.5% in the second quarter. Rhumbline Advisers now owns 66,029 shares of the company’s stock valued at $5,038,000 after acquiring an additional 13,003 shares in the last quarter. Voya Investment Management LLC increased its holdings in Nuvalent by 9.4% during the 3rd quarter. Voya Investment Management LLC now owns 134,742 shares of the company’s stock worth $11,652,000 after purchasing an additional 11,523 shares during the period. Norges Bank purchased a new stake in Nuvalent during the 2nd quarter worth about $28,582,000. Creative Planning raised its position in Nuvalent by 110.6% in the 2nd quarter. Creative Planning now owns 17,288 shares of the company’s stock valued at $1,319,000 after purchasing an additional 9,079 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Nuvalent in the 3rd quarter valued at about $1,629,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.