Marshall Wace LLP Grows Stake in Nuvalent, Inc. (NASDAQ:NUVL)

Marshall Wace LLP boosted its position in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 1,127.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,081 shares of the company’s stock after acquiring an additional 77,229 shares during the quarter. Marshall Wace LLP owned 0.13% of Nuvalent worth $6,378,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Nuvalent by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,412,072 shares of the company’s stock valued at $256,212,000 after purchasing an additional 72,222 shares during the period. Perceptive Advisors LLC grew its position in Nuvalent by 18.5% during the fourth quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock valued at $214,735,000 after buying an additional 454,540 shares during the period. Darwin Global Management Ltd. increased its holdings in 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 buying an additional 1,379,266 shares during the last quarter. Commodore Capital LP raised its position in Nuvalent by 60.6% in the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after acquiring an additional 502,259 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Nuvalent by 80.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock worth $26,409,000 after acquiring an additional 155,276 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upgraded Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. Lifesci Capital upgraded shares of Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price target on Nuvalent from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Barclays initiated coverage on Nuvalent in a research note on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.00.

Insider Transactions at Nuvalent

In related news, insider Deborah Ann Miller sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $68.78, for a total value of $206,340.00. Following the completion of the sale, the insider now directly owns 33,300 shares in the company, valued at $2,290,374. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Nuvalent news, insider Deborah Ann Miller sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $68.78, for a total value of $206,340.00. Following the completion of the sale, the insider now owns 33,300 shares of the company’s stock, valued at $2,290,374. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew Shair sold 2,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $102.75, for a total value of $205,500.00. Following the completion of the sale, the director now owns 226,522 shares in the company, valued at $23,275,135.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,629 shares of company stock worth $8,975,258. 12.52% of the stock is currently owned by company insiders.

Nuvalent Price Performance

NASDAQ:NUVL opened at $102.30 on Tuesday. The company has a market cap of $6.60 billion, a price-to-earnings ratio of -42.45 and a beta of 1.28. Nuvalent, Inc. has a 1 year low of $41.16 and a 1 year high of $113.51. The stock’s 50 day simple moving average is $84.75 and its two-hundred day simple moving average is $77.08.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same quarter in the prior year, the firm earned ($0.51) EPS. As a group, analysts anticipate that Nuvalent, Inc. will post -3.55 EPS for the current year.

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.