FNY Investment Advisers LLC Makes New $13.46 Million Investment in Nuvalent, Inc. $NUVL

FNY Investment Advisers LLC bought a new stake in Nuvalent, Inc. (NASDAQ:NUVL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,951 shares of the company’s stock, valued at approximately $13,455,000. Nuvalent comprises approximately 4.9% of FNY Investment Advisers LLC’s portfolio, making the stock its biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Nuvalent by 36.9% during the 2nd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $65,000 after purchasing an additional 141 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in shares of Nuvalent by 1.5% in the 4th quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock worth $1,100,000 after purchasing an additional 163 shares during the period. US Bancorp DE lifted its stake in Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after purchasing an additional 188 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Nuvalent by 141.3% in the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares during the last quarter. Finally, AlphaCentric Advisors LLC grew its holdings in Nuvalent by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock valued at $477,000 after purchasing an additional 253 shares during the period. 97.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Nuvalent

In other news, CEO James Richard Porter sold 30,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $123.72, for a total value of $3,711,600.00. Following the completion of the transaction, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at $40,194,029.88. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the transaction, the chief financial officer owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 90,471 shares of company stock worth $9,762,529. 5.02% of the stock is owned by insiders.

Nuvalent Price Performance

NASDAQ NUVL opened at $123.96 on Friday. The firm has a market cap of $9.79 billion, a P/E ratio of -20.46 and a beta of 1.14. The company’s 50 day moving average is $119.57 and its 200-day moving average is $108.70. Nuvalent, Inc. has a 12-month low of $71.13 and a 12-month high of $123.99.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS 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. Equities analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current year.

Analyst Ratings Changes

NUVL has been the subject of a number of recent research reports. Wall Street Zen raised Nuvalent to a “sell” rating in a research report on Saturday, July 18th. Cantor Fitzgerald cut Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Canaccord Genuity Group downgraded Nuvalent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, TD Cowen lowered Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price objective for the company. in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $127.73.

Nuvalent Company 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.