Insider Selling: Nuvalent (NASDAQ:NUVL) Insider Sells 2,111 Shares of Stock

Key Points

• Nuvalent insider Henry Pelish sold 2,111 shares on July 9 at an average price of $123.81, for total proceeds of about $261,363. The filing says the sale was made to cover tax withholding obligations tied to vesting equity awards.
• NUVL shares were little changed, rising 0.1% to $123.90 and trading near their 52-week high of $123.91. The stock has a market cap of about $9.79 billion and has moved above both its 50-day and 200-day averages.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $127.73. Nuvalent recently reported a quarterly loss of $1.39 per share, slightly worse than expected, and analysts forecast a full-year loss.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Henry Pelish sold 2,111 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $123.81, for a total value of $261,362.91. Following the completion of the sale, the insider owned 63,493 shares in the company, valued at approximately $7,861,068.33. This represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nuvalent Stock Up 0.1%

Shares of NUVL traded up $0.07 during mid-day trading on Friday, reaching $123.90. The company had a trading volume of 2,057,457 shares, compared to its average volume of 1,360,067. The stock has a market capitalization of $9.79 billion, a P/E ratio of -20.45 and a beta of 1.14. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.91. The stock has a 50 day moving average of $111.23 and a two-hundred day moving average of $105.74.

Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm earned ($1.18) EPS. On average, sell-side analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on NUVL shares. Robert W. Baird set a $122.85 price objective on Nuvalent in a report on Tuesday, June 9th. Wells Fargo & Company reiterated an "equal weight" rating and set a $124.00 target price (up from $116.00) on shares of Nuvalent in a research report on Tuesday, June 9th. Wedbush cut shares of Nuvalent from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $125.00 to $124.00 in a research note on Tuesday, June 9th. Raymond James Financial lowered shares of Nuvalent from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nuvalent in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nuvalent currently has a consensus rating of "Hold" and a consensus price target of $127.73.

Institutional Investors Weigh In On Nuvalent

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company's stock worth $34,000 after buying an additional 108 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in shares of Nuvalent by 1.5% in the fourth quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company's stock worth $1,100,000 after buying an additional 163 shares in the last quarter. US Bancorp DE boosted its position in Nuvalent by 10.0% during the third quarter. US Bancorp DE now owns 2,070 shares of the company's stock worth $179,000 after acquiring an additional 188 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company's stock valued at $34,000 after acquiring an additional 195 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its stake in Nuvalent by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company's stock valued at $477,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

Nuvalent Company 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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