Nuvalent (NASDAQ:NUVL) Insider Sells $1,134,384.16 in Stock

Key Points

• Deborah Ann Miller, an insider at Nuvalent, sold shares worth over $1.13 million, reducing her ownership by 20.14%. This follows another significant sale just a day earlier.
• Nuvalent's stock is currently trading around $92.52, with a market cap of $6.67 billion, reflecting a price-to-earnings ratio of -18.88 following a recent earnings report that missed estimates.
• Analysts maintain a consensus rating of "Moderate Buy" for Nuvalent, with a price target averaging $120.00, despite one analyst giving a "sell" rating.

Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Deborah Ann Miller sold 12,376 shares of the business's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $91.66, for a total value of $1,134,384.16. Following the completion of the sale, the insider directly owned 49,086 shares in the company, valued at $4,499,222.76. This trade represents a 20.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The stock was sold at an average price of $89.98, for a total value of $1,405,847.52.

Nuvalent Price Performance

Nuvalent stock traded up $2.10 during mid-day trading on Friday, reaching $92.52. The stock had a trading volume of 351,655 shares, compared to its average volume of 514,913. Nuvalent, Inc. has a one year low of $55.53 and a one year high of $104.81. The company has a 50-day moving average price of $79.95 and a two-hundred day moving average price of $76.76. The company 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 released its quarterly earnings data on Thursday, August 7th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.04). During the same quarter last year, the company posted ($0.88) EPS. On average, equities research analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Trading of Nuvalent

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in Nuvalent by 4.2% in 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 period. Price T Rowe Associates Inc. MD increased its position in shares of Nuvalent by 11.8% during the 1st 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 during the last quarter. Wellington Management Group LLP increased its position in shares of Nuvalent by 12.3% during the 1st 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 during the last quarter. Braidwell LP lifted its stake in shares of Nuvalent by 39.8% in the 2nd quarter. Braidwell LP now owns 1,175,876 shares of the company's stock worth $89,719,000 after purchasing an additional 334,931 shares during the period. Finally, Vestal Point Capital LP grew its position in Nuvalent by 79.2% during the first quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company's stock valued at $76,239,000 after buying an additional 475,000 shares during the period. Hedge funds and other institutional investors own 97.26% of the company's stock.

Analyst Ratings Changes

NUVL has been the topic of several recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvalent in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a "buy" rating and set a $130.00 price target (up from $110.00) on shares of Nuvalent in a report on Tuesday, June 24th. Leerink Partners lifted their price objective on Nuvalent from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Raymond James Financial began coverage on Nuvalent in a research report on Tuesday, September 2nd. They issued an "outperform" rating and a $105.00 target price for the company. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.00.

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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