Deutsche Bank AG Boosts Stake in Nuvalent, Inc. (NASDAQ:NUVL)

Deutsche Bank AG grew its holdings in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 81.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,663 shares of the company's stock after purchasing an additional 16,018 shares during the quarter. Deutsche Bank AG owned 0.05% of Nuvalent worth $2,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in Nuvalent during the 4th quarter worth approximately $27,000. Quarry LP acquired a new position in shares of Nuvalent in the fourth quarter worth $39,000. US Bancorp DE purchased a new stake in shares of Nuvalent during the fourth quarter worth $90,000. KBC Group NV raised its stake in shares of Nuvalent by 61.1% in the fourth quarter. KBC Group NV now owns 1,587 shares of the company's stock valued at $124,000 after acquiring an additional 602 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Nuvalent by 13.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company's stock valued at $205,000 after acquiring an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

Insider Buying and Selling

In other news, CEO James Richard Porter sold 27,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $68.94, for a total transaction of $1,861,380.00. Following the completion of the sale, the chief executive officer now owns 249,062 shares in the company, valued at approximately $17,170,334.28. The trade was a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NUVL has been the subject of several analyst reports. HC Wainwright restated a "buy" rating and set a $110.00 price target on shares of Nuvalent in a report on Monday, March 3rd. UBS Group raised Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

Nuvalent Trading Down 1.7%

NASDAQ:NUVL traded down $1.22 during trading hours on Tuesday, hitting $72.27. The company's stock had a trading volume of 509,858 shares, compared to its average volume of 490,503. Nuvalent, Inc. has a 52-week low of $55.54 and a 52-week high of $113.51. The stock has a market capitalization of $5.17 billion, a P/E ratio of -20.83 and a beta of 1.42. The stock has a fifty day moving average of $71.19 and a 200-day moving average of $78.84.

Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.14) by ($0.04). During the same period last year, the business earned ($0.69) earnings per share. On average, sell-side analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

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.