Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 15,624 Shares

Key Points

• Insider Deborah Ann Miller sold 15,624 shares of Nuvalent for approximately $1.41 million, reducing her ownership by over 24% to 49,086 shares.
• Nuvalent's stock is currently trading at $92.52, with a 1-year high of $104.81 and a low of $55.53, reflecting a robust market capitalization of $6.67 billion.
• Analysts have a consensus price target of $120.00 for Nuvalent, with a notable amount of bullish ratings, including one Strong Buy and eleven Buy ratings.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Deborah Ann Miller sold 15,624 shares of Nuvalent stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $89.98, for a total transaction of $1,405,847.52. Following the sale, the insider owned 49,086 shares of the company's stock, valued at approximately $4,416,758.28. The trade was a 24.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The shares were sold at an average price of $91.66, for a total value of $1,134,384.16.

Nuvalent Price Performance

Nuvalent stock traded up $2.10 during trading hours on Friday, hitting $92.52. The stock had a trading volume of 351,655 shares, compared to its average volume of 514,913. Nuvalent, Inc. has a 1-year low of $55.53 and a 1-year high of $104.81. The stock's fifty day moving average is $79.95 and its two-hundred day moving average is $76.76. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of -18.88 and a beta of 1.30.

Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its 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 quarter in the previous year, the firm posted ($0.88) EPS. As a group, sell-side analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Nuvalent by 588.5% during the 1st quarter. CWM LLC now owns 420 shares of the company's stock valued at $30,000 after buying an additional 359 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Nuvalent during the 1st quarter valued at approximately $38,000. Covestor Ltd raised its holdings in shares of Nuvalent by 705.7% during the first quarter. Covestor Ltd now owns 983 shares of the company's stock worth $70,000 after purchasing an additional 861 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Nuvalent during the second quarter worth approximately $88,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Nuvalent by 9,230.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company's stock worth $93,000 after acquiring an additional 1,200 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NUVL. Guggenheim began coverage on Nuvalent in a report on Thursday, September 4th. They set a "buy" rating and a $122.00 target price on the stock. The Goldman Sachs Group raised shares of Nuvalent to a "strong-buy" rating in a research note on Monday, June 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvalent in a research note on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of Nuvalent from $105.00 to $112.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Finally, HC Wainwright reissued a "buy" rating and set a $130.00 price objective (up previously from $110.00) on shares of Nuvalent in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $120.00.

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.

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