Insider Selling: Nuvalent (NASDAQ:NUVL) CFO Sells $1,128,026.70 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $98.69, for a total value of $1,128,026.70. Following the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $8,441,251.77. This represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Wednesday, April 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $105.21, for a total value of $1,202,550.30.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $90.95 on Friday. Nuvalent, Inc. has a 1 year low of $71.13 and a 1 year high of $113.01. The firm has a market cap of $7.19 billion, a PE ratio of -15.01 and a beta of 1.15. The stock has a fifty day moving average price of $102.57 and a 200-day moving average price of $103.11.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm earned ($1.18) earnings per share. As a group, equities analysts anticipate that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NUVL. GAMMA Investing LLC grew its stake in shares of Nuvalent by 47.6% during the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after acquiring an additional 195 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Nuvalent during the 3rd quarter worth $38,000. NBC Securities Inc. bought a new position in shares of Nuvalent during the 4th quarter worth $125,000. Finally, KBC Group NV boosted its stake in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after purchasing an additional 297 shares during the period. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

NUVL has been the subject of several research analyst reports. Leerink Partners set a $165.00 target price on Nuvalent in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Nuvalent in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $155.00 target price on shares of Nuvalent in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein initiated coverage on Nuvalent in a research note on Thursday, May 21st. They set an “outperform” rating and a $189.00 price target for the company. One 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $141.24.

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.