18,028 Shares in Nuvalent, Inc. (NASDAQ:NUVL) Acquired by Aquatic Capital Management LLC

Aquatic Capital Management LLC bought a new stake in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 18,028 shares of the company's stock, valued at approximately $1,411,000.

Several other hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its holdings in Nuvalent by 142.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company's stock valued at $53,230,000 after acquiring an additional 400,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Nuvalent by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 4,499,864 shares of the company's stock valued at $352,249,000 after purchasing an additional 366,239 shares during the period. Norges Bank acquired a new position in Nuvalent in the fourth quarter valued at $24,951,000. Wellington Management Group LLP lifted its position in Nuvalent by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 1,284,575 shares of the company's stock worth $100,557,000 after buying an additional 272,738 shares during the period. Finally, Marshall Wace LLP boosted its stake in Nuvalent by 154.8% in the 4th quarter. Marshall Wace LLP now owns 361,040 shares of the company's stock worth $28,262,000 after buying an additional 219,336 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nuvalent

In related news, Director Matthew Shair sold 2,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $78.43, for a total value of $156,860.00. Following the completion of the transaction, the director now owns 216,522 shares of the company's stock, valued at approximately $16,981,820.46. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $75.87, for a total value of $2,048,490.00. Following the sale, the chief executive officer now owns 249,062 shares in the company, valued at $18,896,333.94. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,000 shares of company stock valued at $6,185,150 in the last ninety days. Insiders own 12.52% of the company's stock.

Nuvalent Stock Performance

Nuvalent stock traded up $1.23 during trading on Friday, reaching $77.46. 560,960 shares of the company's stock were exchanged, compared to its average volume of 477,688. Nuvalent, Inc. has a 52-week low of $55.54 and a 52-week high of $113.51. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of -22.32 and a beta of 1.43. The company's 50-day moving average is $71.77 and its two-hundred day moving average is $81.46.

Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.02). Analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on NUVL. UBS Group upgraded shares of Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Friday, March 14th. HC Wainwright reiterated a "buy" rating and issued a $110.00 price target on shares of Nuvalent in a report on Monday, March 3rd. Finally, Wedbush restated an "outperform" rating and set a $115.00 price objective on shares of Nuvalent in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.50.

Nuvalent Company Profile

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.