Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) CFO Alexandra Balcom sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $75.43, for a total value of $754,300.00. Following the completion of the transaction, the chief financial officer now directly owns 33,300 shares in the company, valued at approximately $2,511,819. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Nuvalent Stock Down 3.3 %
NASDAQ NUVL traded down $2.51 during trading on Tuesday, hitting $73.00. 312,860 shares of the stock traded hands, compared to its average volume of 428,234. The company has a market capitalization of $4.71 billion, a P/E ratio of -30.29 and a beta of 1.28. The firm has a 50-day simple moving average of $72.25 and a 200-day simple moving average of $75.24. Nuvalent, Inc. has a 12-month low of $38.78 and a 12-month high of $89.39.
Nuvalent (NASDAQ:NUVL – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02). As a group, research analysts predict that Nuvalent, Inc. will post -3.06 EPS for the current fiscal year.
Hedge Funds Weigh In On Nuvalent
Wall Street Analyst Weigh In
Several brokerages recently issued reports on NUVL. SVB Leerink raised Nuvalent from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $69.00 to $110.00 in a research note on Monday, April 1st. JPMorgan Chase & Co. lifted their target price on Nuvalent from $68.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Jefferies Financial Group began coverage on Nuvalent in a research note on Wednesday, April 17th. They set a “buy” rating and a $97.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $99.00 target price on shares of Nuvalent in a research note on Friday, May 17th. Finally, Leerink Partnrs raised Nuvalent from a “market perform” rating to an “outperform” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Nuvalent presently has an average rating of “Moderate Buy” and a consensus price target of $90.78.
Check Out Our Latest Stock Report on Nuvalent
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.
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