Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 24,200 Shares

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 24,200 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $105.50, for a total transaction of $2,553,100.00. Following the sale, the insider owned 49,086 shares of the company’s stock, valued at approximately $5,178,573. The trade was a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, October 30th, Deborah Ann Miller sold 21,800 shares of Nuvalent stock. The stock was sold at an average price of $103.16, for a total transaction of $2,248,888.00.
• On Monday, October 20th, Deborah Ann Miller sold 5,000 shares of Nuvalent stock. The shares were sold at an average price of $94.91, for a total transaction of $474,550.00.
• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The stock was sold at an average price of $91.66, for a total transaction of $1,134,384.16.
• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The stock was sold at an average price of $89.98, for a total transaction of $1,405,847.52.

Nuvalent Trading Up 2.8%

NASDAQ NUVL traded up $2.89 during trading hours on Wednesday, reaching $107.13. The company’s stock had a trading volume of 2,169,460 shares, compared to its average volume of 536,726. The stock has a market cap of $7.79 billion, a PE ratio of -20.14 and a beta of 1.31. The business has a 50-day simple moving average of $89.11 and a 200 day simple moving average of $81.25. Nuvalent, Inc. has a 52 week low of $55.53 and a 52 week high of $112.53.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same period last year, the business posted ($1.28) earnings per share. As a group, equities analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analyst Upgrades and Downgrades

NUVL has been the topic of a number of recent analyst reports. Barclays set a $152.00 price target on Nuvalent in a report on Monday. The Goldman Sachs Group raised their target price on Nuvalent from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler boosted their price target on Nuvalent from $112.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Wedbush reissued an “outperform” rating and set a $125.00 price target (up from $120.00) on shares of Nuvalent in a report on Monday. Finally, Guggenheim upped their price objective on shares of Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nuvalent presently has an average rating of “Moderate Buy” and an average price target of $137.69.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC lifted its holdings in Nuvalent by 6.6% in the 1st quarter. Voya Investment Management LLC now owns 120,311 shares of the company’s stock valued at $8,532,000 after acquiring an additional 7,414 shares during the last quarter. Voleon Capital Management LP acquired a new position in shares of Nuvalent in the 1st quarter worth approximately $1,489,000. Strs Ohio bought a new stake in shares of Nuvalent in the 1st quarter worth approximately $404,000. New York State Common Retirement Fund raised its holdings in shares of Nuvalent by 23.4% in the 1st quarter. New York State Common Retirement Fund now owns 20,936 shares of the company’s stock worth $1,485,000 after purchasing an additional 3,965 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Nuvalent by 51.3% during the first quarter. American Century Companies Inc. now owns 282,046 shares of the company’s stock valued at $20,003,000 after purchasing an additional 95,661 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.