Nuvalent, Inc. (NASDAQ:NUVL) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Nuvalent received an average analyst rating of “Moderate Buy” from 18 analysts, with 16 buy ratings and one strong buy. The consensus 12-month price target is about $140.29.
• The stock has seen mixed insider activity, including sales by CEO James Richard Porter and insider Deborah Ann Miller. Insiders sold 80,023 shares worth about $8.24 million over the last three months.
• Nuvalent reported a quarterly loss of $1.39 per share, slightly worse than estimates, while shares traded around $110.39 and remain near their 12-month high.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eighteen analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $140.2941.

A number of brokerages have commented on NUVL. Sanford C. Bernstein began coverage on Nuvalent in a report on Thursday, May 21st. They set an "outperform" rating and a $189.00 target price for the company. Wells Fargo & Company began coverage on Nuvalent in a report on Monday, March 30th. They set an "overweight" rating and a $116.00 target price for the company. Wedbush reissued an "outperform" rating and set a $125.00 target price on shares of Nuvalent in a report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvalent in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald increased their target price on Nuvalent from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, February 27th.

Insider Transactions at Nuvalent

In other Nuvalent news, CEO James Richard Porter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the completion of the transaction, the chief executive officer owned 324,879 shares of the company's stock, valued at $33,036,945.51. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $99.22, for a total value of $545,710.00. Following the transaction, the insider directly owned 59,634 shares of the company's stock, valued at $5,916,885.48. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 80,023 shares of company stock worth $8,235,217 over the last three months. 5.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvalent

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of Nuvalent by 20.0% in the first quarter. Bank of America Corp DE now owns 216,516 shares of the company's stock valued at $22,182,000 after purchasing an additional 36,147 shares during the last quarter. Tri Locum Partners LP increased its holdings in shares of Nuvalent by 0.4% in the first quarter. Tri Locum Partners LP now owns 308,506 shares of the company's stock valued at $31,606,000 after purchasing an additional 1,135 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Nuvalent by 141.3% in the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company's stock valued at $34,000 after purchasing an additional 195 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Nuvalent by 29.7% in the first quarter. California State Teachers Retirement System now owns 49,670 shares of the company's stock valued at $5,089,000 after purchasing an additional 11,386 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Nuvalent by 1,537.9% in the first quarter. Royal Bank of Canada now owns 23,569 shares of the company's stock valued at $2,414,000 after purchasing an additional 22,130 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

Nuvalent Trading Up 1.0%

Shares of NUVL stock opened at $110.39 on Friday. The company has a market capitalization of $8.72 billion, a P/E ratio of -18.22 and a beta of 1.15. The business's 50 day moving average is $103.03 and its two-hundred day moving average is $103.24. Nuvalent has a 12-month low of $70.25 and a 12-month high of $113.01.

Nuvalent (NASDAQ:NUVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.35) by ($0.04). During the same period in the prior year, the firm posted ($1.18) earnings per share. On average, research analysts predict that Nuvalent will post -5.74 earnings per share for the current fiscal year.

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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