James Richard Porter Sells 30,000 Shares of Nuvalent (NASDAQ:NUVL) Stock

Key Points

• CEO James Richard Porter sold 30,000 Nuvalent shares on May 4 at an average price of $101.69 for $3.05M, trimming his stake to 324,879 shares (an 8.45% decrease); he also sold 30,000 shares on April 6 at $103.77 (~$3.11M).
• Nuvalent shares recently traded at $104.26, near their 50- and 200-day moving averages (~$102), with a 52-week range of $63.56–$113.01 and a market cap of about $8.2 billion.
• Analyst sentiment is broadly positive with a consensus "Moderate Buy" (16 buys vs. 1 sell) and a consensus target of $137.25, while institutional investors hold roughly 97.26% of the stock.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CEO James Richard Porter sold 30,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the completion of the sale, the chief executive officer directly owned 324,879 shares in the company, valued at approximately $33,036,945.51. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

James Richard Porter also recently made the following trade(s):

• On Monday, April 6th, James Richard Porter sold 30,000 shares of Nuvalent stock. The shares were sold at an average price of $103.77, for a total transaction of $3,113,100.00.

Nuvalent Stock Performance

Shares of NASDAQ:NUVL traded up $2.79 during trading on Wednesday, reaching $104.26. The stock had a trading volume of 479,280 shares, compared to its average volume of 565,853. The firm's fifty day moving average is $101.96 and its 200 day moving average is $102.18. Nuvalent, Inc. has a 52 week low of $63.56 and a 52 week high of $113.01. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of -17.82 and a beta of 1.15.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Candriam S.C.A. lifted 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 valued at $28,514,000 after buying an additional 28,462 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Nuvalent in the third quarter valued at $1,297,000. SG Americas Securities LLC bought a new position in shares of Nuvalent in the third quarter valued at $1,629,000. HighVista Strategies LLC lifted its stake in shares of Nuvalent by 84.9% in the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company's stock valued at $8,068,000 after buying an additional 42,834 shares in the last quarter. Finally, Aberdeen Group plc lifted 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 valued at $16,615,000 after buying an additional 88,489 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NUVL shares. Wells Fargo & Company started coverage on shares of Nuvalent in a research note on Monday, March 30th. They set an "overweight" rating and a $116.00 target price on the stock. Cantor Fitzgerald increased their target price on shares of Nuvalent from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. HC Wainwright reissued a "buy" rating and set a $155.00 target price on shares of Nuvalent in a research note on Tuesday, April 21st. Wedbush reissued an "outperform" rating and set a $125.00 target price on shares of Nuvalent in a research note on Wednesday, April 8th. 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Nuvalent currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.25.

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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