Comerica Bank Grows Holdings in Nuvalent, Inc. $NUVL

Key Points

• Comerica Bank dramatically increased its stake in Nuvalent by 25,180% in Q4, purchasing an additional 20,144 shares to own 20,224 shares worth about $2.03 million.
• Nuvalent is overwhelmingly institution-owned (about 97.26%), with large positions from Vanguard (5.24M shares, ~$527.5M), Wellington (2.30M, ~$199M) and a new RA Capital position (~$107.8M); analysts have a consensus "Moderate Buy" rating and a $137.25 target price.
• Company insiders sold a net 80,023 shares (~$8.24M) last quarter — including CFO Alexandra Balcom's sale of 11,430 shares at $105.21 — while the stock trades near $104 with a market cap of about $8.2 billion and a one-year range of $63.56–$113.01.

Comerica Bank raised its position in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 25,180.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,224 shares of the company's stock after purchasing an additional 20,144 shares during the period. Comerica Bank's holdings in Nuvalent were worth $2,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RA Capital Management L.P. acquired a new position in shares of Nuvalent during the 3rd quarter valued at about $107,794,000. Wellington Management Group LLP increased its stake in shares of Nuvalent by 46.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company's stock valued at $198,979,000 after acquiring an additional 724,491 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Nuvalent by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company's stock valued at $527,521,000 after acquiring an additional 639,264 shares during the last quarter. Polar Capital Holdings Plc increased its stake in shares of Nuvalent by 25.3% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,022,225 shares of the company's stock valued at $88,402,000 after acquiring an additional 206,138 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Nuvalent by 72.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 484,343 shares of the company's stock valued at $36,955,000 after acquiring an additional 204,002 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Nuvalent in a research note on Monday, March 30th. They set an "overweight" rating and a $116.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvalent in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a "buy" rating and set a $155.00 price objective on shares of Nuvalent in a research note on Tuesday, April 21st. Wedbush reaffirmed an "outperform" rating and set a $125.00 price objective on shares of Nuvalent in a research note on Wednesday, April 8th. Finally, Cantor Fitzgerald upped their price objective on shares of Nuvalent from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. Sixteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Nuvalent currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.25.

Insider Buying and Selling at Nuvalent

In related news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the completion of the sale, the chief financial officer owned 85,533 shares of the company's stock, valued at approximately $8,998,926.93. This represents a 11.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry E. Pelish sold 3,093 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $104.48, for a total transaction of $323,156.64. Following the sale, the insider directly owned 65,604 shares of the company's stock, valued at approximately $6,854,305.92. This trade represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,023 shares of company stock worth $8,235,217 in the last quarter. Company insiders own 10.20% of the company's stock.

Nuvalent Stock Performance

NUVL opened at $104.26 on Thursday. The firm has a 50 day moving average price of $101.99 and a 200 day moving average price of $102.28. The company has a market cap of $8.20 billion, a PE ratio of -17.82 and a beta of 1.15. Nuvalent, Inc. has a 1 year low of $63.56 and a 1 year high of $113.01.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.