Dimensional Fund Advisors LP Sells 152,640 Shares of Nuvalent, Inc. (NASDAQ:NUVL)

Dimensional Fund Advisors LP cut its holdings in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 59.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,397 shares of the company's stock after selling 152,640 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.15% of Nuvalent worth $8,250,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in Nuvalent in the fourth quarter valued at about $27,000. US Bancorp DE acquired a new stake in Nuvalent in the fourth quarter valued at about $90,000. KBC Group NV raised its position in Nuvalent by 61.1% in the fourth quarter. KBC Group NV now owns 1,587 shares of the company's stock valued at $124,000 after purchasing an additional 602 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Nuvalent by 13.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company's stock valued at $205,000 after purchasing an additional 309 shares during the last quarter. Finally, Diametric Capital LP bought a new position in Nuvalent in the fourth quarter valued at about $212,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. HC Wainwright reiterated a "buy" rating and issued a $110.00 target price on shares of Nuvalent in a research report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and issued a $115.00 target price on shares of Nuvalent in a research report on Monday, January 13th. Finally, UBS Group upgraded Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Nuvalent has an average rating of "Moderate Buy" and an average target price of $115.50.

Nuvalent Trading Up 5.4%

NUVL stock traded up $3.78 during mid-day trading on Monday, reaching $73.63. The company's stock had a trading volume of 534,558 shares, compared to its average volume of 488,418. The company has a market cap of $5.27 billion, a price-to-earnings ratio of -21.22 and a beta of 1.42. The business's 50 day moving average price is $71.44 and its 200 day moving average price is $80.19. Nuvalent, Inc. has a 12 month low of $55.54 and a 12 month high of $113.51.

Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.18) EPS for the quarter, missing analysts' consensus estimates of ($1.14) by ($0.04). During the same quarter in the previous year, the business earned ($0.69) earnings per share. As a group, equities analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $75.87, for a total transaction of $2,048,490.00. Following the completion of the transaction, the chief executive officer now directly owns 249,062 shares of the company's stock, valued at approximately $18,896,333.94. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Shair sold 2,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $78.43, for a total value of $156,860.00. Following the transaction, the director now directly owns 216,522 shares of the company's stock, valued at approximately $16,981,820.46. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,000 shares of company stock valued at $6,185,150. Insiders own 12.52% of the company's stock.

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.