Tema ETFs LLC Cuts Stock Position in Nuvalent, Inc. $NUVL

Tema ETFs LLC decreased its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 22.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,187 shares of the company’s stock after selling 12,228 shares during the quarter. Tema ETFs LLC owned 0.05% of Nuvalent worth $5,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NUVL. RA Capital Management L.P. purchased a new stake in Nuvalent during the 3rd quarter worth approximately $107,794,000. Wellington Management Group LLP boosted its position in Nuvalent by 46.0% in the 3rd 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 position in Nuvalent by 13.9% in 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 during the period. Norges Bank acquired a new position in shares of Nuvalent in the fourth quarter worth $57,763,000. Finally, JPMorgan Chase & Co. increased its position in shares of Nuvalent by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after acquiring an additional 545,542 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wedbush lowered Nuvalent from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $124.00 in a report on Tuesday, June 9th. Piper Sandler downgraded Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 price target on the stock. in a report on Tuesday, June 9th. Sanford C. Bernstein lowered Nuvalent from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $172.00 to $124.00 in a research report on Wednesday, June 24th. Lifesci Capital cut Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price objective for the company. in a research note on Tuesday, June 9th. Finally, Canaccord Genuity Group downgraded Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $127.73.

Nuvalent Stock Performance

NUVL stock opened at $123.96 on Wednesday. The stock has a market cap of $9.79 billion, a P/E ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $123.99. The company’s 50 day moving average is $121.11 and its two-hundred day moving average is $109.07.

Insider Activity at Nuvalent

In related news, insider Henry E. Pelish sold 2,111 shares of Nuvalent stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $123.81, for a total transaction of $261,362.91. Following the sale, the insider directly owned 63,493 shares in the company, valued at $7,861,068.33. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 90,471 shares of company stock valued at $9,762,529. Corporate insiders own 5.02% of the company’s stock.

Nuvalent 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.