Insider Selling: Nuvalent, Inc. (NASDAQ:NUVL) Director Sells 2,000 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVLGet Free Report) Director Matthew Shair sold 2,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $67.22, for a total value of $134,440.00. Following the completion of the sale, the director now owns 234,522 shares of the company’s stock, valued at $15,764,568.84. The sale was disclosed in a filing with the SEC, which is available at this link.

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

  • On Monday, May 13th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $65.84, for a total value of $2,469,000.00.
  • On Monday, May 6th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $69.48, for a total value of $2,605,500.00.
  • On Monday, April 29th, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $67.51, for a total value of $135,020.00.
  • On Monday, April 22nd, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $63.65, for a total value of $2,386,875.00.
  • On Monday, April 15th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $65.56, for a total value of $2,458,500.00.
  • On Monday, April 8th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $68.44, for a total value of $2,566,500.00.
  • On Monday, April 1st, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $76.92, for a total value of $2,884,500.00.
  • On Monday, March 25th, Matthew Shair sold 37,500 shares of Nuvalent stock. The stock was sold at an average price of $76.77, for a total transaction of $2,878,875.00.

Nuvalent Stock Performance

Shares of NUVL traded down $1.04 during mid-day trading on Wednesday, reaching $66.04. 373,959 shares of the company’s stock traded hands, compared to its average volume of 422,501. The business’s 50-day moving average price is $69.84 and its 200-day moving average price is $73.38. The stock has a market capitalization of $4.26 billion, a P/E ratio of -27.40 and a beta of 1.35. Nuvalent, Inc. has a 12 month low of $38.78 and a 12 month high of $89.39.

Nuvalent (NASDAQ:NUVLGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02). Equities research analysts anticipate that Nuvalent, Inc. will post -3.06 EPS for the current year.

Analysts Set New Price Targets

NUVL has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $99.00 price target on shares of Nuvalent in a research report on Friday, May 17th. Jefferies Financial Group initiated coverage on shares of Nuvalent in a research report on Wednesday, April 17th. They set a “buy” rating and a $97.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Nuvalent from $68.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. BMO Capital Markets raised their target price on shares of Nuvalent from $93.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, Robert W. Baird started coverage on shares of Nuvalent in a report on Friday, February 23rd. They issued an “outperform” rating and a $105.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.78.

View Our Latest Stock Analysis on NUVL

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Darwin Global Management Ltd. increased its stake in shares of Nuvalent by 2,390.5% during the first quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock valued at $107,902,000 after acquiring an additional 1,379,266 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in Nuvalent in the first quarter worth approximately $202,000. Seven Eight Capital LP acquired a new position in Nuvalent in the first quarter worth approximately $1,172,000. Vanguard Group Inc. grew its position in Nuvalent by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,412,072 shares of the company’s stock worth $256,212,000 after buying an additional 72,222 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Nuvalent by 10.3% in the first quarter. ProShare Advisors LLC now owns 8,884 shares of the company’s stock worth $667,000 after buying an additional 830 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Nuvalent (NASDAQ:NUVL)

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