Nuvalent, Inc. (NASDAQ:NUVL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have received an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and fifteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $138.3333.

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a research report on Thursday, January 22nd. Truist Financial set a $140.00 target price on shares of Nuvalent in a report on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, December 19th. HC Wainwright upped their price target on Nuvalent from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Finally, Piper Sandler lifted their price objective on Nuvalent from $112.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th.

Nuvalent Price Performance

Shares of NUVL stock opened at $102.89 on Monday. The business has a 50-day moving average of $104.82 and a 200 day moving average of $91.83. Nuvalent has a 1-year low of $55.53 and a 1-year high of $113.01. The stock has a market capitalization of $7.48 billion, a PE ratio of -19.34 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same quarter in the previous year, the company posted ($1.28) earnings per share. Analysts anticipate that Nuvalent will post -3.86 EPS for the current year.

Insiders Place Their Bets

In related news, insider Deborah Ann Miller sold 14,300 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total transaction of $1,575,288.00. Following the transaction, the insider owned 59,634 shares in the company, valued at $6,569,281.44. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Durant Turner sold 3,181 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total transaction of $309,065.96. Following the completion of the transaction, the insider directly owned 55,130 shares of the company’s stock, valued at approximately $5,356,430.80. The trade was a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 871,466 shares of company stock valued at $84,032,132 over the last quarter. 10.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NUVL. RA Capital Management L.P. bought a new stake in shares of Nuvalent during the third quarter valued at approximately $107,794,000. Wellington Management Group LLP lifted its position in Nuvalent by 46.0% during the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after buying an additional 724,491 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nuvalent by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after buying an additional 639,264 shares in the last quarter. Norges Bank purchased a new stake in shares of Nuvalent in the 2nd quarter worth about $28,582,000. Finally, Braidwell LP increased its stake in shares of Nuvalent by 39.8% in the 2nd quarter. Braidwell LP now owns 1,175,876 shares of the company’s stock worth $89,719,000 after acquiring an additional 334,931 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.