Vanguard Group Inc. Purchases 639,264 Shares of Nuvalent, Inc. $NUVL

Key Points

• Vanguard Group Inc. raised its position in Nuvalent by 13.9% in Q4, buying 639,264 shares to hold 5,244,271 shares (about 7.21% of the company) valued at roughly $527.5 million.
• Nuvalent has an average analyst rating of "Moderate Buy" (16 Buys, 1 Sell) with a consensus price target of $137.25, and several firms recently raised targets (e.g., Cantor Fitzgerald to $140, HC Wainwright to $155).
• Institutional investors own about 97.26% of the stock while insiders hold 10.20% but have sold 50,023 shares worth $5.18 million over the past 90 days.

Vanguard Group Inc. raised its position in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,244,271 shares of the company's stock after buying an additional 639,264 shares during the quarter. Vanguard Group Inc. owned about 7.21% of Nuvalent worth $527,521,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Candriam S.C.A. boosted its stake in shares of Nuvalent by 9.4% in the third quarter. Candriam S.C.A. now owns 329,721 shares of the company's stock worth $28,514,000 after acquiring an additional 28,462 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Nuvalent in the third quarter worth approximately $1,297,000. SG Americas Securities LLC acquired a new stake in shares of Nuvalent in the third quarter worth approximately $1,629,000. Aberdeen Group plc boosted its stake in shares of Nuvalent by 115.4% in the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company's stock worth $16,615,000 after acquiring an additional 88,489 shares during the last quarter. Finally, HighVista Strategies LLC boosted its stake in Nuvalent by 84.9% during the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company's stock worth $8,068,000 after buying an additional 42,834 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Stock Up 3.6%

NASDAQ:NUVL opened at $102.62 on Tuesday. Nuvalent, Inc. has a 52 week low of $63.56 and a 52 week high of $113.01. The company has a market capitalization of $8.07 billion, a P/E ratio of -17.54 and a beta of 1.15. The stock's fifty day moving average is $101.94 and its two-hundred day moving average is $102.10.

Analyst Ratings Changes

A number of equities analysts have weighed in on NUVL shares. Cantor Fitzgerald boosted their price objective on Nuvalent from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Wells Fargo & Company started coverage on Nuvalent in a research note on Monday, March 30th. They set an "overweight" rating and a $116.00 price objective on the stock. Wedbush reissued an "outperform" rating and set a $125.00 price objective on shares of Nuvalent in a research note on Wednesday, April 8th. HC Wainwright reissued a "buy" rating and set a $155.00 price objective on shares of Nuvalent in a research note on Tuesday, April 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvalent in a research note on Tuesday, April 21st. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.25.

Insiders Place Their Bets

In other Nuvalent news, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $99.22, for a total value of $545,710.00. Following the sale, the insider owned 59,634 shares in the company, valued at $5,916,885.48. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry E. Pelish sold 3,093 shares of Nuvalent stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total value of $323,156.64. Following the completion of the sale, the insider owned 65,604 shares in the company, valued at $6,854,305.92. This represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,023 shares of company stock worth $5,184,517 over the last ninety days. Company insiders own 10.20% of the company's stock.

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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