Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) insider Darlene Noci sold 20,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $77.51, for a total value of $1,550,200.00. Following the completion of the sale, the insider now owns 33,300 shares of the company’s stock, valued at $2,581,083. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Nuvalent Stock Up 1.2 %
Shares of NASDAQ:NUVL opened at $76.64 on Thursday. Nuvalent, Inc. has a 52-week low of $23.09 and a 52-week high of $89.39. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -35.48 and a beta of 1.36. The business has a 50-day moving average price of $81.09 and a 200-day moving average price of $68.02.
Nuvalent (NASDAQ:NUVL – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.02). As a group, equities analysts anticipate that Nuvalent, Inc. will post -2.96 EPS for the current fiscal year.
Analyst Ratings Changes
Get Our Latest Stock Report on NUVL
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of NUVL. Vanguard Group Inc. raised its position in Nuvalent by 56.5% during the fourth quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock valued at $245,780,000 after acquiring an additional 1,205,668 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Nuvalent during the fourth quarter valued at approximately $15,953,000. Commodore Capital LP raised its position in Nuvalent by 60.6% during the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock valued at $97,951,000 after acquiring an additional 502,259 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of Nuvalent by 18.5% in the fourth quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock valued at $214,735,000 after buying an additional 454,540 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Nuvalent in the fourth quarter valued at approximately $9,650,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Stories
- Five stocks we like better than Nuvalent
- How to Calculate Return on Investment (ROI)
- Best Bear Market Funds: Top 3 Investment Options to Consider
- What Does Downgrade Mean in Investing?
- Is DraftKings A Good Bet Ahead of Q1 Earnings?
- How to Evaluate a Stock Before Buying
- Mid-Cap Stocks to Outperform the Market This Cycle
Receive News & Ratings for Nuvalent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvalent and related companies with MarketBeat.com's FREE daily email newsletter.