Nuvalent, Inc. $NUVL Shares Sold by Deutsche Bank AG

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 lessened its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its position in Nuvalent by 588.5% in the first quarter. CWM LLC now owns 420 shares of the company's stock worth $30,000 after purchasing an additional 359 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Nuvalent during the first quarter valued at $38,000. Quarry LP purchased a new position in shares of Nuvalent in the 4th quarter worth $39,000. GF Fund Management CO. LTD. bought a new stake in shares of Nuvalent in the 4th quarter worth about $108,000. Finally, Exchange Traded Concepts LLC increased its holdings 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.

Wall Street Analysts Forecast Growth

NUVL has been the topic of a number of research reports. Piper Sandler started coverage on shares of Nuvalent in a report on Tuesday, August 19th. They issued an "overweight" rating and a $112.00 target price on the stock. The Goldman Sachs Group upgraded shares of Nuvalent to a "strong-buy" rating in a research report on Monday, June 30th. HC Wainwright reiterated a "buy" rating and set a $130.00 price objective (up previously from $110.00) on shares of Nuvalent in a research report on Tuesday, June 24th. Wedbush reaffirmed an "outperform" rating and set a $115.00 price target on shares of Nuvalent in a research note on Monday, July 21st. Finally, Robert W. Baird upped their price target on shares of Nuvalent from $105.00 to $112.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $118.91.

Nuvalent Trading Up 3.3%

Shares of NASDAQ NUVL traded up $2.43 during mid-day trading on Friday, reaching $76.08. The company had a trading volume of 407,091 shares, compared to its average volume of 509,960. The business's 50-day moving average is $78.55 and its 200-day moving average is $75.50. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -15.53 and a beta of 1.30. Nuvalent, Inc. has a 52 week low of $55.53 and a 52 week high of $113.51.

Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same period in the prior year, the firm posted ($0.88) earnings per share. As a group, equities research analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Insider Activity at Nuvalent

In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction on Friday, August 15th. The shares were sold at an average price of $75.42, for a total value of $2,036,340.00. Following the transaction, the chief executive officer directly owned 249,062 shares of the company's stock, valued at approximately $18,784,256.04. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexandra Balcom sold 14,700 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $85.10, for a total value of $1,250,970.00. Following the transaction, the chief financial officer directly owned 61,734 shares in the company, valued at $5,253,563.40. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,145 shares of company stock valued at $9,455,872 over the last quarter. 10.20% of the stock is owned by corporate insiders.

About Nuvalent

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.