Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CFO Alexandra Balcom sold 20,000 shares of Nuvalent stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $88.51, for a total value of $1,770,200.00. Following the completion of the sale, the chief financial officer owned 61,734 shares of the company's stock, valued at approximately $5,464,076.34. The trade was a 24.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Alexandra Balcom also recently made the following trade(s):
- On Tuesday, September 30th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The stock was sold at an average price of $85.06, for a total transaction of $1,701,200.00.
- On Monday, September 29th, Alexandra Balcom sold 7,588 shares of Nuvalent stock. The shares were sold at an average price of $85.01, for a total transaction of $645,055.88.
Nuvalent Trading Up 5.9%
NASDAQ NUVL traded up $4.98 on Wednesday, hitting $89.64. 551,198 shares of the company were exchanged, compared to its average volume of 515,537. The company has a market cap of $6.46 billion, a PE ratio of -18.29 and a beta of 1.30. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $105.13. The stock has a fifty day moving average of $79.34 and a 200-day moving average of $76.54.
Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same quarter in the previous year, the company earned ($0.88) EPS. On average, analysts expect that Nuvalent, Inc. will post -3.86 earnings per share for the current year.
Institutional Trading of Nuvalent
A number of institutional investors have recently modified their holdings of NUVL. CWM LLC lifted its stake in shares of Nuvalent by 588.5% during the 1st quarter. CWM LLC now owns 420 shares of the company's stock valued at $30,000 after buying an additional 359 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Nuvalent in the 1st quarter worth approximately $38,000. Covestor Ltd lifted its stake in Nuvalent by 705.7% in the 1st quarter. Covestor Ltd now owns 983 shares of the company's stock worth $70,000 after purchasing an additional 861 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Nuvalent in the 2nd quarter worth approximately $88,000. Finally, Farther Finance Advisors LLC lifted its stake in Nuvalent by 9,230.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company's stock worth $93,000 after purchasing an additional 1,200 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NUVL. Wedbush reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Nuvalent in a research note on Monday, September 8th. Raymond James Financial initiated coverage on shares of Nuvalent in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $105.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $130.00 target price (up from $110.00) on shares of Nuvalent in a research report on Tuesday, June 24th. Piper Sandler initiated coverage on shares of Nuvalent in a research report on Tuesday, August 19th. They set an "overweight" rating and a $112.00 target price for the company. Finally, Robert W. Baird increased their target price on shares of Nuvalent from $105.00 to $112.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $120.50.
Read Our Latest Stock Report on NUVL
Nuvalent Company Profile
(
Get Free Report)
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.
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