Nuvalent (NASDAQ:NUVL) Shares Gap Down to $37.50

Nuvalent Inc (NASDAQ:NUVL) gapped down prior to trading on Wednesday . The stock had previously closed at $37.50, but opened at $36.59. Nuvalent shares last traded at $37.95, with a volume of 744 shares changing hands.

Several equities analysts have weighed in on NUVL shares. Cowen started coverage on Nuvalent in a research report on Monday, August 23rd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. initiated coverage on Nuvalent in a research report on Monday, August 23rd. They issued an “overweight” rating and a $34.00 target price for the company. Finally, Piper Sandler initiated coverage on Nuvalent in a research report on Monday, August 23rd. They set an “overweight” rating and a $40.00 price objective for the company.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Wednesday, September 8th. The company reported ($3.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($2.97). Sell-side analysts predict that Nuvalent Inc will post -1.25 earnings per share for the current fiscal year.

About Nuvalent (NASDAQ:NUVL)

Nuvalent Inc is a biopharmaceutical company. It focused on creating precisely targeted therapies for clinically proven kinase targets in cancer. The company’s program pipeline includes ROS1-positive and ALK-positive NSCLC. Nuvalent Inc is based in CAMBRIDGE, Mass.

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