Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Nuvalent has a consensus analyst rating of “Hold” from 20 research firms, with an average 12-month price target of about $127.73.
• Several analysts recently turned more cautious, including rating cuts from Lifesci Capital, Wedbush, Truist Financial, and Barclays, with most of the new targets centered at $124.
• Insiders have been selling shares recently, including the CFO and another executive, while 97.26% of the stock is held by hedge funds and other institutional investors.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $127.7289.

Several research firms have recently weighed in on NUVL. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvalent in a research note on Tuesday, April 21st. Lifesci Capital lowered shares of Nuvalent from an "outperform" rating to a "hold" rating and set a $124.00 price target on the stock. in a research report on Tuesday, June 9th. Wedbush cut Nuvalent from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $125.00 to $124.00 in a report on Tuesday, June 9th. Truist Financial lowered Nuvalent from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $140.00 to $124.00 in a research report on Tuesday, June 9th. Finally, Barclays reiterated an "equal weight" rating and set a $124.00 price target (down from $152.00) on shares of Nuvalent in a research report on Tuesday, June 9th.

Insider Activity at Nuvalent

In other news, insider Henry E. Pelish sold 2,111 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $123.81, for a total transaction of $261,362.91. Following the completion of the transaction, the insider directly owned 63,493 shares in the company, valued at $7,861,068.33. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the sale, the chief financial officer directly owned 85,533 shares of the company's stock, valued at $10,570,168.14. The trade was a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 125,971 shares of company stock worth $13,358,939. Company insiders own 5.02% of the company's stock.

Hedge Funds Weigh In On Nuvalent

A number of hedge funds and other institutional investors have recently bought and sold shares of NUVL. Handelsbanken Fonder AB grew its position in Nuvalent by 38.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 19,300 shares of the company's stock valued at $2,384,000 after acquiring an additional 5,400 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Nuvalent during the second quarter worth about $13,455,000. GAMMA Investing LLC boosted its stake in shares of Nuvalent by 36.9% in the second quarter. GAMMA Investing LLC now owns 523 shares of the company's stock valued at $65,000 after purchasing an additional 141 shares during the period. Bank of America Corp DE boosted its stake 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 period. Finally, Tri Locum Partners LP grew 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 in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Nuvalent Price Performance

NASDAQ NUVL opened at $123.96 on Monday. The business's fifty day simple moving average is $113.85 and its 200-day simple moving average is $106.55. The firm has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. Nuvalent has a 52 week low of $71.13 and a 52 week high of $123.99.

Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its quarterly earnings data 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 quarter in the previous year, the firm earned ($1.18) EPS. Research analysts expect that Nuvalent will post -5.74 EPS for the current year.

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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