Nuvalent (NASDAQ:NUVL) Insider Henry Pelish Sells 7,637 Shares

Key Points

• Insider Henry Pelish sold 7,637 shares of Nuvalent stock at an average price of $89.81, resulting in a total transaction value of approximately $685,878.
• Nuvalent's stock saw a 5.9% increase on Wednesday, bringing its price to $89.64, with a market cap of $6.46 billion.
• Several analysts have varying outlooks on Nuvalent, with target prices ranging from $105.00 to $130.00, while achieving a consensus rating of "Moderate Buy".

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Henry Pelish sold 7,637 shares of Nuvalent stock in a transaction on Monday, October 13th. The shares were sold at an average price of $89.81, for a total value of $685,878.97. Following the completion of the sale, the insider owned 65,963 shares in the company, valued at $5,924,137.03. This represents a 10.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Nuvalent Stock Up 5.9%

NASDAQ:NUVL traded up $4.98 on Wednesday, reaching $89.64. The company's stock had a trading volume of 551,198 shares, compared to its average volume of 515,537. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $105.13. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of -18.29 and a beta of 1.30. The stock has a 50 day moving average price of $79.34 and a 200 day moving average price of $76.54.

Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.04). During the same quarter in the prior year, the firm posted ($0.88) earnings per share. Equities research analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NUVL has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on Nuvalent from $105.00 to $112.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. The Goldman Sachs Group upgraded Nuvalent to a "strong-buy" rating in a report on Monday, June 30th. Piper Sandler assumed coverage on Nuvalent in a report on Tuesday, August 19th. They issued an "overweight" rating and a $112.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $130.00 price objective (up previously from $110.00) on shares of Nuvalent in a report on Tuesday, June 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvalent in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Nuvalent has a consensus rating of "Moderate Buy" and an average target price of $120.50.

Institutional Investors Weigh In On Nuvalent

Several institutional investors have recently modified their holdings of NUVL. CWM LLC increased its holdings in Nuvalent by 588.5% in the first 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 position in shares of Nuvalent during the 1st quarter worth about $38,000. Covestor Ltd boosted its position in shares of Nuvalent by 705.7% during the 1st quarter. Covestor Ltd now owns 983 shares of the company's stock worth $70,000 after acquiring an additional 861 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Nuvalent during the 2nd quarter worth about $88,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Nuvalent by 9,230.8% during 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 in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.

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