Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 5,500 Shares

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the completion of the sale, the insider directly owned 59,634 shares in the company, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, April 30th, Deborah Ann Miller sold 5,500 shares of Nuvalent stock. The stock was sold at an average price of $99.22, for a total transaction of $545,710.00.

Nuvalent Stock Down 15.7%

NASDAQ NUVL traded down $17.38 during trading hours on Monday, hitting $93.01. 2,941,821 shares of the stock were exchanged, compared to its average volume of 588,201. The company has a market cap of $7.35 billion, a price-to-earnings ratio of -15.35 and a beta of 1.15. Nuvalent, Inc. has a 12-month low of $71.13 and a 12-month high of $113.01. The stock has a 50-day moving average of $103.03 and a 200 day moving average of $103.31.

Nuvalent (NASDAQ:NUVL) last released 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 posted ($1.18) earnings per share. On average, equities research analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Analyst Ratings Changes

NUVL has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $155.00 price objective on shares of Nuvalent in a research report on Tuesday, April 21st. Wells Fargo & Company started coverage on shares of Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Sanford C. Bernstein began coverage on shares of Nuvalent in a research note on Thursday, May 21st. They issued an “outperform” rating and a $189.00 price objective for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nuvalent has an average rating of “Moderate Buy” and an average target price of $140.29.

Hedge Funds Weigh In On Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after purchasing an additional 195 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Nuvalent during the 3rd quarter worth approximately $38,000. NBC Securities Inc. purchased a new stake in Nuvalent in the 4th quarter valued at approximately $125,000. Finally, KBC Group NV lifted its stake in 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 buying an additional 297 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Company 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.