Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CFO Alexandra Balcom sold 1,683 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $85.57, for a total transaction of $144,014.31. Following the transaction, the chief financial officer directly owned 61,734 shares in the company, valued at approximately $5,282,578.38. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Alexandra Balcom also recently made the following trade(s):
- On Monday, October 13th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The shares were sold at an average price of $88.51, for a total transaction of $1,770,200.00.
- On Tuesday, September 30th, Alexandra Balcom sold 20,000 shares of Nuvalent stock. The stock was sold at an average price of $85.06, for a total transaction of $1,701,200.00.
- On Monday, September 29th, Alexandra Balcom sold 7,588 shares of Nuvalent stock. The stock was sold at an average price of $85.01, for a total transaction of $645,055.88.
Nuvalent Stock Performance
Shares of NASDAQ:NUVL traded up $2.10 during midday trading on Friday, hitting $92.52. The company's stock had a trading volume of 351,601 shares, compared to its average volume of 514,362. The business's 50 day simple moving average is $79.95 and its 200 day simple moving average is $76.76. The company has a market cap of $6.67 billion, a P/E ratio of -18.88 and a beta of 1.30. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $104.81.
Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same period in the previous year, the firm earned ($0.88) EPS. On average, sell-side analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Leerink Partners lifted their target price on shares of Nuvalent from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvalent in a research note on Wednesday, October 8th. Guggenheim assumed coverage on shares of Nuvalent in a research note on Thursday, September 4th. They set a "buy" rating and a $122.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $130.00 target price (up from $110.00) on shares of Nuvalent in a research note on Tuesday, June 24th. Finally, Raymond James Financial assumed coverage on shares of Nuvalent in a research note on Tuesday, September 2nd. They set an "outperform" rating and a $105.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $120.00.
View Our Latest Stock Report on NUVL
Institutional Investors Weigh In On Nuvalent
A number of institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Nuvalent by 4.2% during the second quarter. State Street Corp now owns 1,490,279 shares of the company's stock valued at $113,708,000 after acquiring an additional 59,620 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Nuvalent by 11.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,450,602 shares of the company's stock valued at $102,878,000 after purchasing an additional 152,692 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Nuvalent by 12.3% in the first quarter. Wellington Management Group LLP now owns 1,442,384 shares of the company's stock valued at $102,294,000 after purchasing an additional 157,809 shares in the last quarter. Braidwell LP grew its holdings in shares of Nuvalent by 39.8% in the second quarter. Braidwell LP now owns 1,175,876 shares of the company's stock valued at $89,719,000 after purchasing an additional 334,931 shares in the last quarter. Finally, Vestal Point Capital LP grew its holdings in shares of Nuvalent by 79.2% in the first quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company's stock valued at $76,239,000 after purchasing an additional 475,000 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.
Nuvalent Company Profile
(
Get Free Report)
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.
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