Nicholas Investment Partners LP Raises Position in Nuvalent, Inc. $NUVL

Nicholas Investment Partners LP raised its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 29.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 160,483 shares of the company’s stock after acquiring an additional 36,305 shares during the quarter. Nuvalent comprises approximately 1.2% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 18th largest holding. Nicholas Investment Partners LP’s holdings in Nuvalent were worth $16,143,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NUVL. AQR Capital Management LLC lifted its position in shares of Nuvalent by 64.8% during the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock worth $700,000 after purchasing an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Nuvalent by 54.4% during the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Nuvalent by 8.8% during the 1st 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 purchasing an additional 12,123 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Nuvalent by 28.7% during the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock worth $1,366,000 after purchasing an additional 4,293 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Nuvalent during the 2nd quarter worth $412,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Nuvalent Price Performance

Shares of NUVL opened at $123.25 on Friday. Nuvalent, Inc. has a 1-year low of $71.13 and a 1-year high of $123.62. The stock has a market cap of $9.74 billion, a PE ratio of -20.34 and a beta of 1.15. The firm has a fifty day moving average price of $104.21 and a 200 day moving average price of $103.45.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUVL shares. TD Cowen cut shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price objective for the company. in a research report on Tuesday. Leerink Partners set a $165.00 price objective on shares of Nuvalent in a research report on Wednesday, June 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $124.00 price objective (up from $116.00) on shares of Nuvalent in a research report on Tuesday. Robert W. Baird set a $122.85 price objective on shares of Nuvalent in a research report on Tuesday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Nuvalent in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nuvalent has an average rating of “Hold” and an average price target of $131.15.

Insider Activity at Nuvalent

In related news, CFO Alexandra Balcom sold 11,430 shares of the business’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 completion of the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at $8,441,251.77. The trade was 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 available at this hyperlink. Also, CEO James Richard Porter sold 30,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $88.53, for a total transaction of $2,655,900.00. Following the completion of the sale, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at approximately $28,761,537.87. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 126,953 shares of company stock valued at $12,612,264 in the last ninety days. 5.02% of the stock is currently owned by insiders.

Key Stories Impacting Nuvalent

Here are the key news stories impacting Nuvalent this week:

• Positive Sentiment: GSK’s purchase underscores strong strategic demand for Nuvalent’s oncology assets, especially its selective tyrosine kinase inhibitor programs, which supports the view that the company’s pipeline has major pharma value. Reuters article on GSK deal
• Positive Sentiment: Market commentary and analyst coverage suggest the acquisition is strategically important for GSK’s oncology rebuild, reinforcing confidence that the transaction is meaningful and likely to close. Reuters article on GSK oncology rebuild
• Neutral Sentiment: Several analyst downgrades followed the takeover announcement, but their revised price targets remain close to the deal price, so the impact on the stock appears limited. Analyst downgrade coverage
• Neutral Sentiment: Law firms have begun reviewing whether the sale process and price were fair, which could create headline noise but does not change the announced terms. Business Wire article on investigation
• Negative Sentiment: CEO James Richard Porter sold 30,000 shares, which may slightly weigh on sentiment by suggesting insiders have been reducing exposure ahead of the transaction. SEC insider filing

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.