Wall Street Zen Upgrades Nuvalent (NASDAQ:NUVL) to Sell

Nuvalent (NASDAQ:NUVL) was upgraded by stock analysts at Wall Street Zen to a “sell” rating in a report released on Saturday.

NUVL has been the topic of a number of other research reports. Wedbush downgraded shares of Nuvalent from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $124.00 in a research report on Tuesday, June 9th. Canaccord Genuity Group cut shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Leerink Partners set a $165.00 price target on shares of Nuvalent in a research note on Wednesday, June 3rd. UBS Group lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $138.00 to $124.00 in a report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.73.

Nuvalent Stock Performance

Shares of NUVL stock opened at $123.96 on Friday. Nuvalent has a fifty-two week low of $71.13 and a fifty-two week high of $123.99. The stock has a 50 day simple moving average of $113.85 and a two-hundred day simple moving average of $106.55. The company has a market cap of $9.79 billion, a P/E ratio of -20.46 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same period in the previous year, the company posted ($1.18) earnings per share. On average, research analysts predict that Nuvalent will post -5.74 earnings per share for the current year.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total value of $1,412,519.40. Following the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider owned 59,634 shares of the company’s stock, valued at $6,430,930.56. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 125,971 shares of company stock worth $13,358,939. Company insiders own 5.02% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

A number of institutional investors and hedge funds have recently made changes to their positions in NUVL. GAMMA Investing LLC lifted its position in Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in 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 in the last quarter. NBC Securities Inc. purchased a new stake in shares of Nuvalent in the fourth quarter worth approximately $125,000. KBC Group NV raised its stake in shares of Nuvalent by 24.1% in the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after purchasing an additional 297 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.