Deutsche Bank AG Sells 8,100 Shares of Nuvalent, Inc. $NUVL

Key Points

• Deutsche Bank AG reduced its holdings in Nuvalent, Inc. by 22.7%, now owning 27,563 shares valued at approximately $1.95 million.
• Insider transactions included CEO James Richard Porter selling 27,000 shares for over $2 million, resulting in a 9.78% decrease in his ownership.
• Analysts are optimistic, with numerous upgrades and a **consensus rating of "Buy"**, targeting an average price of approximately $118.91 for NUVL shares.

Deutsche Bank AG lowered its position in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 22.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,563 shares of the company's stock after selling 8,100 shares during the period. Deutsche Bank AG's holdings in Nuvalent were worth $1,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC grew its stake in shares of Nuvalent by 588.5% in the 1st quarter. CWM LLC now owns 420 shares of the company's stock worth $30,000 after buying an additional 359 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Nuvalent in the 1st quarter worth approximately $38,000. Quarry LP purchased a new stake in shares of Nuvalent in the 4th quarter worth approximately $39,000. GF Fund Management CO. LTD. purchased a new stake in shares of Nuvalent in the 4th quarter worth approximately $108,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Nuvalent by 10.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,654 shares of the company's stock worth $117,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

Insider Buying and Selling

In related news, insider Henry E. Pelish sold 8,630 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $79.87, for a total value of $689,278.10. Following the transaction, the insider directly owned 63,101 shares of the company's stock, valued at approximately $5,039,876.87. This trade represents a 12.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Richard Porter sold 27,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $82.27, for a total value of $2,221,290.00. Following the completion of the transaction, the chief executive officer directly owned 249,062 shares in the company, valued at approximately $20,490,330.74. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,145 shares of company stock valued at $9,455,872. 10.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on NUVL shares. Wedbush reiterated an "outperform" rating and set a $115.00 target price on shares of Nuvalent in a research note on Monday, July 21st. Leerink Partners increased their target price on Nuvalent from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Tuesday, June 24th. Piper Sandler started coverage on Nuvalent in a research note on Tuesday, August 19th. They set an "overweight" rating and a $112.00 target price on the stock. The Goldman Sachs Group upgraded Nuvalent to a "strong-buy" rating in a research note on Monday, June 30th. Finally, Robert W. Baird increased their target price on Nuvalent from $105.00 to $112.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $118.91.

Nuvalent Stock Performance

Shares of NASDAQ NUVL traded up $1.20 during midday trading on Wednesday, hitting $76.13. 220,183 shares of the stock traded hands, compared to its average volume of 431,874. The firm has a 50-day moving average of $78.50 and a two-hundred day moving average of $75.34. The firm has a market capitalization of $5.49 billion, a P/E ratio of -15.54 and a beta of 1.30. Nuvalent, Inc. has a one year low of $55.53 and a one year high of $113.51.

Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.04). During the same period in the prior year, the company earned ($0.88) earnings per share. Equities analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal 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.