Empowered Funds LLC Invests $1.50 Million in Nuvalent, Inc. $NUVL

Empowered Funds LLC bought a new stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,648 shares of the company’s stock, valued at approximately $1,501,000.

Several other large investors have also recently made changes to their positions in NUVL. NBC Securities Inc. acquired a new position in shares of Nuvalent in the fourth quarter worth about $125,000. KBC Group NV increased its stake in shares of 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 purchasing an additional 297 shares in the last quarter. US Bancorp DE raised its holdings in Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after purchasing an additional 188 shares during the period. Portland Investment Counsel Inc. purchased a new position in Nuvalent during the fourth quarter worth approximately $201,000. Finally, Swiss Life Asset Management Ltd purchased a new position in Nuvalent during the fourth quarter worth approximately $202,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird set a $122.85 target price on Nuvalent in a research note on Tuesday, June 9th. Truist Financial cut shares of Nuvalent from a “buy” rating to a “hold” rating and dropped their price target for the company from $140.00 to $124.00 in a research note on Tuesday, June 9th. Guggenheim lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and cut their price target for the stock from $151.00 to $124.00 in a report on Wednesday, June 10th. Wedbush cut shares of Nuvalent from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $124.00 in a research report on Tuesday, June 9th. Finally, UBS Group downgraded shares of Nuvalent from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $138.00 to $124.00 in a report on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nuvalent has an average rating of “Hold” and a consensus target price of $127.73.

Nuvalent Stock Performance

Shares of NUVL opened at $123.96 on Friday. The stock has a 50 day moving average price of $119.84 and a 200 day moving average price of $108.81. Nuvalent, Inc. has a one year low of $71.13 and a one year high of $123.99. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14.

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 period in the prior year, the business earned ($1.18) EPS. On average, analysts predict that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, insider Henry E. Pelish sold 2,111 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $123.81, for a total value of $261,362.91. Following the transaction, the insider directly owned 63,493 shares of the company’s stock, valued at $7,861,068.33. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO James Richard Porter sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $88.53, for a total value of $2,655,900.00. Following the transaction, the chief executive officer owned 324,879 shares in the company, valued at approximately $28,761,537.87. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 90,471 shares of company stock valued at $9,762,529. Insiders own 5.02% of the company’s stock.

Nuvalent 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.