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

Dimensional Fund Advisors LP trimmed its position in shares of Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 59.2% during the fourth quarter, according to the company in its most recent Form 13F filing 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 0.15% of Nuvalent worth $8,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Nuvalent in the fourth quarter valued at approximately $27,000. US Bancorp DE bought a new position in Nuvalent in the fourth quarter valued at $90,000. KBC Group NV increased its position in shares of 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 acquiring an additional 602 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Nuvalent by 13.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company's stock worth $205,000 after purchasing an additional 309 shares in the last quarter. Finally, Diametric Capital LP acquired a new stake in shares of Nuvalent in the 4th quarter valued at approximately $212,000. Institutional investors and hedge funds own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

NUVL has been the topic of several analyst reports. UBS Group raised shares of Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Friday, March 14th. HC Wainwright restated a "buy" rating and issued a $110.00 price objective on shares of Nuvalent in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $115.50.

Nuvalent Trading Down 2.6%

NASDAQ NUVL traded down $1.86 during midday trading on Thursday, hitting $69.17. The company had a trading volume of 95,455 shares, compared to its average volume of 486,940. Nuvalent, Inc. has a twelve month low of $55.54 and a twelve month high of $113.51. The company has a market capitalization of $4.95 billion, a PE ratio of -19.93 and a beta of 1.42. The firm has a 50-day moving average price of $71.41 and a 200-day moving average price of $80.07.

Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.14) by ($0.04). During the same period in the previous year, the company posted ($0.69) EPS. On average, equities analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Insider Activity at Nuvalent

In related news, CEO James Richard Porter sold 27,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $68.94, for a total value of $1,861,380.00. Following the completion of the sale, the chief executive officer now owns 249,062 shares in the company, valued at $17,170,334.28. The trade was a 9.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction on Monday, February 24th. The stock was sold at an average price of $78.43, for a total transaction of $156,860.00. Following the completion of the transaction, the director now owns 216,522 shares in the company, valued at approximately $16,981,820.46. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,000 shares of company stock valued at $6,185,150 over the last ninety days. Corporate insiders own 12.52% of the company's stock.

Nuvalent Profile

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.