Analysts Set Nuvalent, Inc. (NASDAQ:NUVL) Target Price at $113.10

Shares of Nuvalent, Inc. (NASDAQ:NUVLGet Free Report) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $113.10.

Several analysts recently commented on NUVL shares. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Nuvalent in a research report on Monday, March 3rd. BMO Capital Markets boosted their price objective on shares of Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Nuvalent in a research report on Monday, January 13th.

Check Out Our Latest Stock Analysis on NUVL

Nuvalent Trading Down 2.6 %

Shares of Nuvalent stock opened at $71.07 on Friday. Nuvalent has a 12 month low of $61.80 and a 12 month high of $113.51. The firm has a market capitalization of $5.05 billion, a P/E ratio of -20.48 and a beta of 1.42. The business has a fifty day simple moving average of $79.32 and a two-hundred day simple moving average of $88.39.

Nuvalent (NASDAQ:NUVLGet Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Analysts predict that Nuvalent will post -3.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $78.43, for a total transaction of $156,860.00. Following the completion of the transaction, the director now directly owns 216,522 shares of the company’s stock, valued at approximately $16,981,820.46. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $86.61, for a total transaction of $2,338,470.00. Following the transaction, the chief executive officer now directly owns 188,113 shares of the company’s stock, valued at $16,292,466.93. This trade represents a 12.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,800 shares of company stock worth $8,895,004 in the last three months. 12.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Nuvalent during the fourth quarter valued at $27,000. Quarry LP bought a new stake in shares of Nuvalent in the 4th quarter valued at approximately $39,000. US Bancorp DE purchased a new position in shares of Nuvalent in the 4th quarter worth approximately $90,000. GF Fund Management CO. LTD. bought a new position in shares of Nuvalent during the 4th quarter valued at approximately $108,000. Finally, KBC Group NV raised its holdings in Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company’s stock valued at $124,000 after buying an additional 602 shares during the period. 97.26% of the stock is currently owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Nuvalent (NASDAQ:NUVL)

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