Matthew Shair Sells 2,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $82.79, for a total value of $165,580.00. Following the completion of the sale, the director now directly owns 218,522 shares in the company, valued at approximately $18,091,436.38. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Matthew Shair also recently made the following trade(s):

• On Monday, December 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $83.78, for a total value of $167,560.00.
• On Monday, November 25th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $96.22, for a total transaction of $192,440.00.

Nuvalent Stock Up 2.6 %

NASDAQ:NUVL opened at $87.75 on Friday. Nuvalent, Inc. has a 52 week low of $61.79 and a 52 week high of $113.51. The stock’s fifty day moving average is $84.89 and its two-hundred day moving average is $87.68. The company has a market capitalization of $6.23 billion, a P/E ratio of -25.29 and a beta of 1.38.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.35). During the same quarter in the previous year, the firm posted ($0.59) EPS. Sell-side analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NUVL shares. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Nuvalent in a research note on Friday, January 17th. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a report on Monday, January 13th. JPMorgan Chase & Co. raised their target price on Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. UBS Group began coverage on Nuvalent in a research note on Thursday, October 24th. They issued a “neutral” rating and a $100.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on shares of Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nuvalent currently has an average rating of “Moderate Buy” and a consensus price target of $112.36.

Hedge Funds Weigh In On Nuvalent

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its position in Nuvalent by 21.8% in the second quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after purchasing an additional 198 shares during the period. HighVista Strategies LLC raised its holdings in shares of Nuvalent by 1.1% in the 3rd quarter. HighVista Strategies LLC now owns 29,018 shares of the company’s stock valued at $2,969,000 after buying an additional 320 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Nuvalent by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,147 shares of the company’s stock worth $213,000 after acquiring an additional 382 shares in the last quarter. KBC Group NV boosted its holdings in Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company’s stock valued at $124,000 after acquiring an additional 602 shares during the period. Finally, MetLife Investment Management LLC grew its position in Nuvalent by 6.7% in the 3rd quarter. MetLife Investment Management LLC now owns 19,737 shares of the company’s stock valued at $2,019,000 after acquiring an additional 1,231 shares in the last quarter. Hedge funds and other institutional investors 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.