Swiss National Bank Has $5.78 Million Position in Nuvalent, Inc. $NUVL

Swiss National Bank lifted its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,800 shares of the company’s stock after acquiring an additional 5,900 shares during the period. Swiss National Bank owned approximately 0.11% of Nuvalent worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Braidwell LP grew its stake in Nuvalent by 248.6% during the first quarter. Braidwell LP now owns 840,945 shares of the company’s stock worth $59,640,000 after purchasing an additional 599,710 shares during the period. Vestal Point Capital LP boosted its holdings in shares of Nuvalent by 79.2% during the 1st quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company’s stock worth $76,239,000 after buying an additional 475,000 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Nuvalent during the 1st quarter worth approximately $31,969,000. Affinity Asset Advisors LLC grew its position in shares of Nuvalent by 61.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $32,623,000 after buying an additional 175,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Nuvalent by 54.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after acquiring an additional 159,873 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUVL. Stifel Nicolaus increased their target price on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a report on Wednesday, October 8th. Canaccord Genuity Group assumed coverage on shares of Nuvalent in a report on Wednesday, November 12th. They set a “buy” rating and a $126.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $125.00 target price (up from $120.00) on shares of Nuvalent in a research report on Monday, November 17th. Finally, Truist Financial set a $140.00 target price on shares of Nuvalent in a report on Monday, November 24th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Insider Buying and Selling at Nuvalent

In related news, Director James E. Flynn sold 742,574 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $95.44, for a total transaction of $70,871,262.56. Following the sale, the director directly owned 8,299,225 shares in the company, valued at approximately $792,078,034. This represents a 8.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Deborah Ann Miller sold 24,200 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $105.50, for a total transaction of $2,553,100.00. Following the completion of the transaction, the insider directly owned 49,086 shares of the company’s stock, valued at approximately $5,178,573. This trade represents a 33.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,041,074 shares of company stock valued at $98,898,659 in the last three months. 10.20% of the stock is owned by company insiders.

Nuvalent Price Performance

NASDAQ:NUVL opened at $106.42 on Tuesday. The business has a fifty day simple moving average of $94.34 and a two-hundred day simple moving average of $83.62. Nuvalent, Inc. has a 1 year low of $55.53 and a 1 year high of $112.88. The company has a market capitalization of $7.74 billion, a P/E ratio of -20.00 and a beta of 1.31.

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

About Nuvalent

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.