Insider Selling: Nuvalent (NASDAQ:NUVL) Insider Sells 5,000 Shares of Stock

Key Points

• Deborah Ann Miller, an insider at Nuvalent, sold 5,000 shares at an average price of $94.91, resulting in a 9.24% reduction in her stake, which now stands at 49,086 shares valued at approximately $4.66 million.
• Nuvalent's stock is currently priced around $90.88, with analysts predicting an average target price of $120.00, reflecting a consensus rating of "Moderate Buy."
• Institutional investors control a significant portion of Nuvalent, with 97.26% of the company's stock held by hedge funds and other institutions.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Deborah Ann Miller sold 5,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $94.91, for a total value of $474,550.00. Following the transaction, the insider owned 49,086 shares in the company, valued at $4,658,752.26. The trade was a 9.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The stock was sold at an average price of $91.66, for a total value of $1,134,384.16.
• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The stock was sold at an average price of $89.98, for a total value of $1,405,847.52.

Nuvalent Price Performance

NASDAQ:NUVL traded down $6.30 during trading hours on Wednesday, hitting $90.88. The company's stock had a trading volume of 604,072 shares, compared to its average volume of 516,818. The stock has a fifty day simple moving average of $81.19 and a 200-day simple moving average of $77.40. The company has a market capitalization of $6.55 billion, a P/E ratio of -18.55 and a beta of 1.30. Nuvalent, Inc. has a twelve month low of $55.53 and a twelve month high of $99.94.

Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same quarter last year, the business earned ($0.88) earnings per share. On average, equities analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NUVL. Exchange Traded Concepts LLC raised its stake in shares of Nuvalent by 10.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,654 shares of the company's stock valued at $117,000 after purchasing an additional 161 shares during the period. Kennedy Capital Management LLC raised its stake in shares of Nuvalent by 3.7% during the 2nd quarter. Kennedy Capital Management LLC now owns 5,504 shares of the company's stock valued at $420,000 after purchasing an additional 196 shares during the period. Guggenheim Capital LLC raised its stake in shares of Nuvalent by 2.7% during the 2nd quarter. Guggenheim Capital LLC now owns 10,863 shares of the company's stock valued at $829,000 after purchasing an additional 288 shares during the period. GF Fund Management CO. LTD. raised its stake in shares of Nuvalent by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,680 shares of the company's stock valued at $119,000 after purchasing an additional 302 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nuvalent by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,564 shares of the company's stock valued at $196,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 97.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Nuvalent in a research report on Wednesday, October 15th. They set an "overweight" rating and a $135.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvalent in a research report on Wednesday, October 8th. Guggenheim initiated coverage on Nuvalent in a research report on Thursday, September 4th. They issued a "buy" rating and a $122.00 price objective on the stock. Leerink Partners boosted their price objective on Nuvalent from $125.00 to $140.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Finally, Raymond James Financial began coverage on Nuvalent in a research report on Tuesday, September 2nd. They issued an "outperform" rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

About Nuvalent

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.

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