Nuvalent, Inc. (NASDAQ:NUVL) Receives $138.67 Consensus PT from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $138.6667.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. UBS Group restated a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Truist Financial set a $140.00 price target on Nuvalent in a report on Monday, November 24th. Cantor Fitzgerald lifted their price target on Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research note on Thursday, January 22nd.

Insider Buying and Selling at Nuvalent

In other news, insider Deborah Ann Miller sold 14,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total value of $1,575,288.00. Following the completion of the transaction, the insider directly owned 59,634 shares in the company, valued at approximately $6,569,281.44. This trade represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry E. Pelish sold 2,664 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.17, for a total transaction of $258,860.88. Following the transaction, the insider directly owned 65,888 shares of the company’s stock, valued at approximately $6,402,336.96. This represents a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 69,379 shares of company stock worth $6,940,982. 10.20% of the stock is owned by corporate insiders.

Institutional Trading of Nuvalent

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Nuvalent by 64.8% in the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after purchasing an additional 3,881 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Nuvalent by 54.4% in the first quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock worth $32,171,000 after purchasing an additional 159,873 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nuvalent by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock worth $10,634,000 after buying an additional 12,123 shares in the last quarter. Intech Investment Management LLC boosted its stake in Nuvalent by 28.7% during the first quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after buying an additional 4,293 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Nuvalent by 24.9% during the second quarter. Bank of New York Mellon Corp now owns 143,375 shares of the company’s stock valued at $10,940,000 after buying an additional 28,549 shares during the period. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Nuvalent Stock Down 0.4%

NASDAQ NUVL opened at $97.06 on Tuesday. The firm has a market cap of $7.06 billion, a P/E ratio of -16.59 and a beta of 1.32. The company’s 50 day moving average is $102.74 and its 200-day moving average is $97.41. Nuvalent has a 12-month low of $55.53 and a 12-month high of $113.01.

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.