Pictet Asset Management Holding SA Has $35.78 Million Holdings in Nuvalent, Inc. $NUVL

Key Points

• Pictet Asset Management trimmed its Nuvalent stake by 7.5% in Q4 and now holds 355,681 shares worth $35.78 million, representing about 0.49% of the company.
• Insiders sold a total of 44,523 shares (~$4.64 million) last quarter — including CFO Alexandra Balcom (11,430 shares) and CEO James R. Porter (30,000 shares) — leaving insiders with 10.20% ownership.
• Analyst consensus is broadly positive (16 Buys, 1 Sell) with an average price target of $137.25 (rated "Moderate Buy"), while the stock trades around $99.10 and the company has a $7.79 billion market cap.

Pictet Asset Management Holding SA cut its stake in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,681 shares of the company's stock after selling 28,895 shares during the period. Pictet Asset Management Holding SA owned 0.49% of Nuvalent worth $35,778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company's stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Nuvalent during the 3rd quarter worth $38,000. Eastern Bank acquired a new position in Nuvalent during the 3rd quarter worth $52,000. NBC Securities Inc. bought a new position in Nuvalent in the 4th quarter valued at $125,000. Finally, KBC Group NV increased its stake in shares of Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company's stock valued at $154,000 after buying an additional 297 shares during the period. 97.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $155.00 target price on shares of Nuvalent in a research report on Tuesday, April 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvalent in a research report on Tuesday, April 21st. Wedbush restated an "outperform" rating and set a $125.00 target price on shares of Nuvalent in a research report on Wednesday, April 8th. Cantor Fitzgerald raised their target price 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. Finally, Wells Fargo & Company started coverage on shares of Nuvalent in a research report on Monday, March 30th. They set an "overweight" rating and a $116.00 price target for the company. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.25.

Insiders Place Their Bets

In other news, CFO Alexandra Balcom sold 11,430 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the completion of the transaction, the chief financial officer directly owned 85,533 shares in the company, valued at approximately $8,998,926.93. The trade was a 11.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Richard Porter sold 30,000 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $103.77, for a total value of $3,113,100.00. Following the completion of the sale, the chief executive officer directly owned 324,879 shares of the company's stock, valued at approximately $33,712,693.83. This trade represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 44,523 shares of company stock worth $4,638,807. Insiders own 10.20% of the company's stock.

Nuvalent Stock Down 2.8%

Shares of Nuvalent stock opened at $99.10 on Thursday. The business has a fifty day simple moving average of $102.02 and a 200 day simple moving average of $101.90. The stock has a market cap of $7.79 billion, a PE ratio of -16.94 and a beta of 1.31. Nuvalent, Inc. has a 12 month low of $63.56 and a 12 month 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.

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