Henry E. Pelish Sells 3,725 Shares of Nuvalent (NASDAQ:NUVL) Stock

Key Points

• Insider Henry Pelish sold 3,725 shares of Nuvalent, resulting in a 5.35% decrease in ownership, with the total transaction valued at $293,641.75.
• Nuvalent reported a loss of $1.31 earnings per share, missing estimates, and analysts anticipate a total earnings per share of -3.86 for the current year.
• Analysts have shown strong confidence in Nuvalent, with a consensus rating of "Buy" and a target price of approximately $120.91 for the stock.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Henry E. Pelish sold 3,725 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $78.83, for a total transaction of $293,641.75. Following the completion of the transaction, the insider owned 65,963 shares of the company's stock, valued at approximately $5,199,863.29. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nuvalent Price Performance

Shares of NASDAQ:NUVL traded up $0.31 during trading on Wednesday, hitting $78.64. 308,664 shares of the company were exchanged, compared to its average volume of 388,276. The firm's 50 day moving average price is $78.64 and its 200-day moving average price is $75.31. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $108.98. The stock has a market capitalization of $5.67 billion, a P/E ratio of -16.05 and a beta of 1.29.

Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same period in the previous year, the business posted ($0.88) EPS. As a group, equities research analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. CWM LLC boosted its stake in Nuvalent by 588.5% in the 1st quarter. CWM LLC now owns 420 shares of the company's stock worth $30,000 after buying an additional 359 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Nuvalent during the first quarter worth $38,000. Covestor Ltd increased its position 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 acquiring an additional 861 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Nuvalent during the 2nd quarter valued at approximately $88,000. Finally, Farther Finance Advisors LLC increased its position 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 purchasing an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

Analysts Set New Price Targets

NUVL has been the subject of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $130.00 price objective (up from $110.00) on shares of Nuvalent in a research note on Tuesday, June 24th. The Goldman Sachs Group raised Nuvalent to a "strong-buy" rating in a report on Monday, June 30th. Leerink Partners lifted their price target on Nuvalent from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Wedbush reissued an "outperform" rating and issued a $115.00 price objective on shares of Nuvalent in a research note on Monday, September 8th. Finally, Robert W. Baird raised their target price on shares of Nuvalent from $105.00 to $112.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Nuvalent has a consensus rating of "Buy" and an average target price of $119.50.

Nuvalent Company 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.