Nuvalent (NASDAQ:NUVL) Research Coverage Started at HC Wainwright

HC Wainwright initiated coverage on shares of Nuvalent (NASDAQ:NUVL) in a research note released on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $110.00 price target on the stock. HC Wainwright also issued estimates for Nuvalent’s Q4 2024 earnings at ($1.10) EPS, FY2024 earnings at ($3.96) EPS, Q1 2025 earnings at ($1.08) EPS, Q2 2025 earnings at ($1.05) EPS, Q3 2025 earnings at ($1.02) EPS, Q4 2025 earnings at ($1.00) EPS, FY2025 earnings at ($4.16) EPS, FY2026 earnings at ($2.88) EPS, FY2027 earnings at ($0.55) EPS and FY2028 earnings at $1.88 EPS.

Other analysts also recently issued reports about the stock. Guggenheim boosted their price target on shares of Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Stifel Nicolaus lifted their target price on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, October 4th. UBS Group assumed coverage on shares of Nuvalent in a report on Thursday, October 24th. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on shares of Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.36.

Nuvalent Stock Up 0.5 %

NUVL opened at $78.28 on Monday. The company’s 50-day moving average price is $90.16 and its 200 day moving average price is $87.36. Nuvalent has a fifty-two week low of $61.79 and a fifty-two week high of $113.51. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -22.56 and a beta of 1.31.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results 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 period last year, the company earned ($0.59) earnings per share. Research analysts anticipate that Nuvalent will post -3.84 earnings per share for the current year.

Insider Transactions at Nuvalent

In other news, Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $91.73, for a total transaction of $183,460.00. Following the transaction, the director now owns 224,522 shares in the company, valued at approximately $20,595,403.06. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Flynn sold 2,000,000 shares of Nuvalent stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $97.75, for a total transaction of $195,500,000.00. Following the completion of the sale, the director now directly owns 8,670,512 shares of the company’s stock, valued at approximately $847,542,548. The trade was a 18.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,070,000 shares of company stock valued at $202,035,390 in the last three months. Corporate insiders own 12.52% of the company’s stock.

Institutional Trading of Nuvalent

Several large investors have recently made changes to their positions in NUVL. FMR LLC lifted its holdings in Nuvalent by 8.9% in the 3rd quarter. FMR LLC now owns 9,654,352 shares of the company’s stock worth $987,640,000 after purchasing an additional 786,257 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Nuvalent by 65.5% in the third quarter. Wellington Management Group LLP now owns 1,011,837 shares of the company’s stock worth $103,511,000 after buying an additional 400,402 shares during the last quarter. Samlyn Capital LLC bought a new stake in shares of Nuvalent during the 2nd quarter worth $17,397,000. Logos Global Management LP acquired a new position in Nuvalent in the 2nd quarter valued at $14,793,000. Finally, Dimensional Fund Advisors LP grew its stake in Nuvalent by 80.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock valued at $26,409,000 after buying an additional 155,276 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

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.