Universal Beteiligungs und Servicegesellschaft mbH Sells 11,308 Shares of Nuvalent, Inc. (NASDAQ:NUVL)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Nuvalent, Inc. by 20%, selling 11,308 shares and retaining 45,255 shares valued at approximately $3.2 million.
• Multiple hedge funds have recently increased or acquired stakes in Nuvalent, with institutional investors owning 97.26% of the company's stock.
• Nuvalent's CFO sold 14,700 shares for about $1.25 million, signaling a 19.23% decrease in her ownership of the stock amidst a high level of insider trading activity.

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,255 shares of the company's stock after selling 11,308 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Nuvalent worth $3,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUVL. Boxer Capital Management LLC bought a new stake in Nuvalent during the 4th quarter worth about $87,689,000. Vestal Point Capital LP bought a new stake in Nuvalent during the 4th quarter worth about $46,968,000. Polar Capital Holdings Plc lifted its position in Nuvalent by 161.2% during the 4th quarter. Polar Capital Holdings Plc now owns 946,723 shares of the company's stock worth $74,109,000 after buying an additional 584,223 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Nuvalent by 142.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company's stock worth $53,230,000 after buying an additional 400,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Nuvalent by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 4,499,864 shares of the company's stock worth $352,249,000 after purchasing an additional 366,239 shares during the last quarter. 97.26% of the stock is owned by institutional investors.

Nuvalent Stock Performance

NUVL traded down $0.03 on Friday, reaching $78.33. The company had a trading volume of 122,946 shares, compared to its average volume of 544,480. Nuvalent, Inc. has a fifty-two week low of $55.53 and a fifty-two week high of $113.51. The stock has a market cap of $5.62 billion, a P/E ratio of -17.86 and a beta of 1.31. The company's fifty day moving average is $78.60 and its 200 day moving average is $76.19.

Nuvalent (NASDAQ:NUVL - Get Free Report) last announced 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 last year, the business posted ($0.69) EPS. On average, sell-side analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analyst Upgrades and Downgrades

NUVL has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $130.00 price objective (up from $110.00) on shares of Nuvalent in a research note on Tuesday, June 24th. Wedbush restated an "outperform" rating and set a $115.00 price objective on shares of Nuvalent in a research note on Monday, July 21st. The Goldman Sachs Group upgraded shares of Nuvalent to a "strong-buy" rating in a research note on Monday, June 30th. Leerink Partners boosted their price objective on shares of Nuvalent from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Finally, Robert W. Baird boosted their price objective on shares of Nuvalent from $105.00 to $112.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nuvalent has an average rating of "Buy" and a consensus price target of $119.60.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, CFO Alexandra Balcom sold 14,700 shares of the business'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 completion of the sale, the chief financial officer owned 61,734 shares of the company's stock, valued at $5,253,563.40. The trade was a 19.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Richard Porter sold 27,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $82.27, for a total transaction of $2,221,290.00. Following the completion of the sale, the chief executive officer directly owned 249,062 shares of the company's stock, valued at $20,490,330.74. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,645 shares of company stock valued at $7,007,857 in the last quarter. Company 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.