Nuvalent, Inc. $NUVL Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC boosted its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 71.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,732 shares of the company’s stock after acquiring an additional 9,081 shares during the period. Legato Capital Management LLC’s holdings in Nuvalent were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NUVL. GAMMA Investing LLC grew its stake in Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after acquiring an additional 108 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Nuvalent in the 3rd quarter valued at about $38,000. NBC Securities Inc. acquired a new stake in Nuvalent in the 4th quarter valued at about $125,000. KBC Group NV grew its stake in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after acquiring an additional 297 shares during the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in Nuvalent in the 3rd quarter valued at about $172,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUVL has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on shares of Nuvalent in a research note on Monday, March 30th. They issued an “overweight” rating and a $116.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Nuvalent in a research note on Wednesday, April 8th. Cantor Fitzgerald raised their price target on shares of Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Sanford C. Bernstein began coverage on shares of Nuvalent in a research note on Thursday. They set an “outperform” rating and a $189.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.29.

Insider Activity at Nuvalent

In other news, CEO James Richard Porter sold 30,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the transaction, the chief executive officer directly owned 324,879 shares in the company, valued at $33,036,945.51. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the transaction, the chief financial officer owned 85,533 shares in the company, valued at approximately $8,998,926.93. The trade was a 11.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 80,023 shares of company stock valued at $8,235,217. Insiders own 5.02% of the company’s stock.

Nuvalent Price Performance

Nuvalent stock opened at $102.12 on Friday. The stock has a market capitalization of $8.07 billion, a P/E ratio of -16.85 and a beta of 1.15. Nuvalent, Inc. has a 12-month low of $70.25 and a 12-month high of $113.01. The firm’s 50-day moving average is $102.18 and its two-hundred day moving average is $102.76.

Nuvalent (NASDAQ:NUVL) last announced 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) EPS. As a group, analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current year.

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.