Insider Selling: Nuvalent (NASDAQ:NUVL) Insider Sells 5,500 Shares of Stock

Key Points

• Insider sale: Director Deborah Ann Miller sold 5,500 shares on April 30 at an average price of $99.22 for a total of $545,710, reducing her position by 8.44% to 59,634 shares (SEC filing disclosed).
• Analyst outlook: Sixteen analysts rate Nuvalent a Buy and one a Sell, giving an average target price of $137.25, with recent price targets ranging from $116 to $155.
• Heavy institutional ownership: Institutions own 97.26% of Nuvalent, with large recent increases by Vanguard, Wellington, JPMorgan, Price T. Rowe and RA Capital.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $99.22, for a total transaction of $545,710.00. Following the completion of the sale, the insider owned 59,634 shares of the company's stock, valued at approximately $5,916,885.48. The trade was a 8.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nuvalent Stock Down 1.2%

Shares of NASDAQ:NUVL traded down $1.24 during trading on Friday, reaching $99.04. 416,399 shares of the company traded hands, compared to its average volume of 566,305. The firm has a fifty day simple moving average of $101.94 and a 200 day simple moving average of $101.89. Nuvalent, Inc. has a 1-year low of $63.56 and a 1-year high of $113.01. The firm has a market cap of $7.79 billion, a P/E ratio of -16.93 and a beta of 1.31.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Nuvalent

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company's stock valued at $527,521,000 after buying an additional 639,264 shares in the last quarter. Wellington Management Group LLP boosted its stake in Nuvalent by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company's stock worth $247,635,000 after purchasing an additional 160,958 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Nuvalent by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company's stock worth $221,826,000 after acquiring an additional 545,542 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Nuvalent by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company's stock valued at $215,962,000 after purchasing an additional 336,518 shares during the last quarter. Finally, RA Capital Management L.P. boosted its position in Nuvalent by 50.8% in the 4th quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company's stock valued at $189,115,000 after buying an additional 633,601 shares during the last quarter. Institutional investors own 97.26% of the company's stock.

About Nuvalent

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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