Nuvalent, Inc. (NASDAQ:NUVL) CFO Sells $319,994.88 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 4,016 shares of Nuvalent stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $79.68, for a total transaction of $319,994.88. Following the sale, the chief financial officer now owns 61,734 shares in the company, valued at approximately $4,918,965.12. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Thursday, October 31st, Alexandra Balcom sold 10,000 shares of Nuvalent stock. The stock was sold at an average price of $89.19, for a total transaction of $891,900.00.

Nuvalent Price Performance

Shares of NUVL traded down $1.87 during trading hours on Wednesday, hitting $78.25. The stock had a trading volume of 341,935 shares, compared to its average volume of 471,296. The firm has a 50 day simple moving average of $88.87 and a 200-day simple moving average of $87.41. Nuvalent, Inc. has a 1-year low of $61.79 and a 1-year high of $113.51. The firm has a market capitalization of $5.56 billion, a P/E ratio of -22.55 and a beta of 1.38.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.35). During the same quarter in the previous year, the company posted ($0.59) earnings per share. Equities analysts predict that Nuvalent, Inc. will post -3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Guggenheim lifted their target price on Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Nuvalent in a report on Tuesday, November 12th. The Goldman Sachs Group raised shares of Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. HC Wainwright began coverage on shares of Nuvalent in a research note on Monday, December 30th. They set a “buy” rating and a $110.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.36.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in shares of Nuvalent by 21.8% during the second quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after buying an additional 198 shares during the last quarter. HighVista Strategies LLC raised its stake in shares of Nuvalent by 1.1% in the third quarter. HighVista Strategies LLC now owns 29,018 shares of the company’s stock worth $2,969,000 after purchasing an additional 320 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Nuvalent by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,147 shares of the company’s stock valued at $213,000 after purchasing an additional 382 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Nuvalent during the second quarter valued at approximately $44,000. Finally, Arizona State Retirement System grew its holdings in Nuvalent by 15.9% during the second quarter. Arizona State Retirement System now owns 8,215 shares of the company’s stock worth $623,000 after buying an additional 1,127 shares in the last quarter. 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.