Nuvalent (NASDAQ:NUVL) Rating Increased to Strong Sell at The Goldman Sachs Group

Nuvalent (NASDAQ:NUVL) was upgraded by analysts at The Goldman Sachs Group to a “strong sell” rating in a research note issued on Monday, Zacks.com reports.

A number of other brokerages have also recently issued reports on NUVL. JPMorgan Chase & Co. upped their target price on Nuvalent from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Guggenheim upped their price target on shares of Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday. Stifel Nicolaus boosted their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays assumed coverage on Nuvalent in a research report on Thursday, August 29th. They set an “overweight” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.00.

Nuvalent Trading Down 6.6 %

NASDAQ NUVL opened at $104.75 on Monday. The company has a market capitalization of $6.76 billion, a PE ratio of -43.46 and a beta of 1.28. The stock has a 50-day simple moving average of $80.68 and a 200 day simple moving average of $75.97. Nuvalent has a 12 month low of $39.86 and a 12 month high of $113.51.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period last year, the company posted ($0.51) earnings per share. As a group, sell-side analysts predict that Nuvalent will post -3.55 earnings per share for the current fiscal year.

Insider Activity at Nuvalent

In other Nuvalent news, insider Deborah Ann Miller sold 3,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $88.18, for a total value of $264,540.00. Following the completion of the sale, the insider now directly owns 33,300 shares in the company, valued at $2,936,394. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nuvalent news, insider Deborah Ann Miller sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $88.18, for a total value of $264,540.00. Following the transaction, the insider now owns 33,300 shares in the company, valued at $2,936,394. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $80.22, for a total value of $160,440.00. Following the sale, the director now owns 232,522 shares of the company’s stock, valued at approximately $18,652,914.84. The disclosure for this sale can be found here. Insiders have sold 84,834 shares of company stock worth $6,818,117 in the last quarter. Company insiders own 12.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NUVL. Darwin Global Management Ltd. grew its holdings in shares of Nuvalent by 2,390.5% during the first quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock valued at $107,902,000 after buying an additional 1,379,266 shares during the last quarter. Vanguard Group Inc. increased its holdings in Nuvalent by 56.5% during the 4th quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after purchasing an additional 1,205,668 shares in the last quarter. Commodore Capital LP raised its stake in shares of Nuvalent by 60.6% in the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after purchasing an additional 502,259 shares during the last quarter. Perceptive Advisors LLC boosted its position in shares of Nuvalent by 18.5% during 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 during the last quarter. Finally, Samlyn Capital LLC purchased a new stake in Nuvalent in the 2nd quarter valued at $17,397,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.