Nuvalent (NASDAQ:NUVL) Announces Earnings Results, Misses Estimates By $0.04 EPS

Nuvalent (NASDAQ:NUVL) announced its earnings results on Thursday. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04), FiscalAI reports. During the same period in the previous year, the company posted ($1.18) EPS.

Nuvalent Stock Up 2.8%

Shares of NUVL stock traded up $2.88 during mid-day trading on Friday, reaching $105.28. The stock had a trading volume of 579,883 shares, compared to its average volume of 565,975. Nuvalent has a one year low of $68.64 and a one year high of $113.01. The firm has a market cap of $8.28 billion, a PE ratio of -17.37 and a beta of 1.15. The firm’s 50 day simple moving average is $101.94 and its 200 day simple moving average is $102.35.

Insider Buying and Selling at Nuvalent

In related news, CEO James Richard Porter sold 30,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00. Following the sale, the chief executive officer owned 324,879 shares of the company’s stock, valued at $33,036,945.51. The trade was a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the completion of the sale, the chief financial officer owned 85,533 shares in the company, valued at $8,998,926.93. This represents a 11.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,023 shares of company stock worth $8,235,217 over the last three months. 10.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Cibc World Markets Corp acquired a new position in shares of Nuvalent during the 4th quarter worth about $333,000. Xponance LLC raised its holdings in shares of Nuvalent by 17.3% in the 4th quarter. Xponance LLC now owns 3,965 shares of the company’s stock valued at $399,000 after purchasing an additional 585 shares during the period. LPL Financial LLC acquired a new stake in Nuvalent in the 4th quarter valued at about $255,000. CIBC Bancorp USA Inc. bought a new position in Nuvalent during the third quarter worth about $396,000. Finally, Freestone Grove Partners LP bought a new position in Nuvalent during the third quarter worth about $342,000. 97.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NUVL. Cantor Fitzgerald upped their price target on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 27th. HC Wainwright reissued a “buy” rating and set a $155.00 price objective on shares of Nuvalent in a research report on Tuesday, April 21st. Wells Fargo & Company initiated coverage on Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Nuvalent in a research report on Wednesday, April 8th. Sixteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.25.

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.