Universal Beteiligungs und Servicegesellschaft mbH Invests $4.43 Million in Nuvalent, Inc. (NASDAQ:NUVL)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,563 shares of the company's stock, valued at approximately $4,428,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Nuvalent at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new position in shares of Nuvalent in the 4th quarter worth about $27,000. Quarry LP acquired a new stake in shares of Nuvalent in the fourth quarter valued at about $39,000. US Bancorp DE acquired a new stake in shares of Nuvalent in the fourth quarter valued at about $90,000. GF Fund Management CO. LTD. acquired a new stake in shares of Nuvalent in the fourth quarter valued at about $108,000. Finally, KBC Group NV grew its stake in Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company's stock valued at $124,000 after purchasing an additional 602 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Nuvalent Stock Up 1.7%

Shares of Nuvalent stock traded up $1.27 during trading on Thursday, reaching $78.09. 291,976 shares of the company were exchanged, compared to its average volume of 490,917. Nuvalent, Inc. has a twelve month low of $55.54 and a twelve month high of $113.51. The business has a 50-day moving average price of $71.36 and a 200-day moving average price of $78.23. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of -22.50 and a beta of 1.34.

Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.18) EPS for the quarter, missing analysts' consensus estimates of ($1.14) by ($0.04). During the same quarter in the prior year, the company posted ($0.69) earnings per share. On average, equities research analysts forecast that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group upgraded Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, March 14th. HC Wainwright reaffirmed a "buy" rating and set a $110.00 target price on shares of Nuvalent in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $115.50.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was 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 directly owns 249,062 shares in the company, valued at $17,170,334.28. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.20% of the company's stock.

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.