Nicholas Investment Partners LP Boosts Holdings in Nuvalent, Inc. $NUVL

Key Points

• Nicholas Investment Partners LP increased its Nuvalent stake by 29.2% in the fourth quarter, buying 36,305 additional shares and bringing its total to 160,483 shares worth about $16.1 million.
• Nuvalent has drawn heavy institutional interest overall, with hedge funds and other investors owning 97.26% of the company’s stock. Several major firms, including Vanguard, Wellington, and JPMorgan, also boosted their positions.
• The stock has been volatile but recently traded near its 52-week high of $123.62, while analyst sentiment has cooled somewhat after recent downgrades; the consensus rating is now Hold with a target price of $131.15.

Nicholas Investment Partners LP grew its position in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,483 shares of the company's stock after buying an additional 36,305 shares during the period. Nuvalent accounts for approximately 1.2% of Nicholas Investment Partners LP's investment portfolio, making the stock its 18th largest position. Nicholas Investment Partners LP owned 0.22% of Nuvalent worth $16,143,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NUVL. RA Capital Management L.P. purchased a new stake in shares of Nuvalent in the 3rd quarter valued at approximately $107,794,000. Wellington Management Group LLP grew its stake in shares of Nuvalent by 46.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company's stock valued at $198,979,000 after buying an additional 724,491 shares during the period. Vanguard Group Inc. grew its stake in shares of Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company's stock valued at $527,521,000 after buying an additional 639,264 shares during the period. Norges Bank purchased a new stake in shares of Nuvalent in the 4th quarter valued at approximately $57,763,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Nuvalent by 32.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company's stock valued at $221,826,000 after buying an additional 545,542 shares during the period. Hedge funds and other institutional investors own 97.26% of the company's stock.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $123.25 on Friday. The stock has a market capitalization of $9.74 billion, a P/E ratio of -20.34 and a beta of 1.15. The company has a 50 day moving average price of $104.21 and a 200 day moving average price of $103.45. Nuvalent, Inc. has a fifty-two week low of $71.13 and a fifty-two week high of $123.62.

Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the prior year, the firm earned ($1.18) EPS. Research analysts forecast that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal 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 that occurred on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total value of $1,202,550.30. Following the completion of the transaction, the chief financial officer owned 85,533 shares of the company's stock, valued at $8,998,926.93. This trade represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Henry E. Pelish sold 3,093 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total transaction of $323,156.64. Following the completion of the transaction, the insider directly owned 65,604 shares of the company's stock, valued at $6,854,305.92. This represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 126,953 shares of company stock worth $12,612,264. 5.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen cut shares of Nuvalent from a "buy" rating to a "hold" rating and set a $124.00 price objective for the company. in a research report on Tuesday. Cantor Fitzgerald cut shares of Nuvalent from an "overweight" rating to a "neutral" rating in a research report on Tuesday. Robert W. Baird set a $122.85 price objective on shares of Nuvalent in a research report on Tuesday. Truist Financial set a $124.00 price objective on shares of Nuvalent in a research report on Tuesday. Finally, Raymond James Financial cut shares of Nuvalent from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $131.15.

Key Nuvalent News

Here are the key news stories impacting Nuvalent this week:

• Positive Sentiment: GSK’s purchase underscores strong strategic demand for Nuvalent’s oncology assets, especially its selective tyrosine kinase inhibitor programs, which supports the view that the company’s pipeline has major pharma value. Reuters article on GSK deal
• Positive Sentiment: Market commentary and analyst coverage suggest the acquisition is strategically important for GSK’s oncology rebuild, reinforcing confidence that the transaction is meaningful and likely to close. Reuters article on GSK oncology rebuild
• Neutral Sentiment: Several analyst downgrades followed the takeover announcement, but their revised price targets remain close to the deal price, so the impact on the stock appears limited. Analyst downgrade coverage
• Neutral Sentiment: Law firms have begun reviewing whether the sale process and price were fair, which could create headline noise but does not change the announced terms. Business Wire article on investigation
• Negative Sentiment: CEO James Richard Porter sold 30,000 shares, which may slightly weigh on sentiment by suggesting insiders have been reducing exposure ahead of the transaction. SEC insider filing

Nuvalent Company 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.

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