US Bancorp DE Makes New $90,000 Investment in Nuvalent, Inc. (NASDAQ:NUVL)

US Bancorp DE acquired a new stake in Nuvalent, Inc. (NASDAQ:NUVL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,156 shares of the company’s stock, valued at approximately $90,000.

A number of other hedge funds have also modified their holdings of NUVL. KBC Group NV raised its position in Nuvalent by 61.1% in the 4th quarter. KBC Group NV now owns 1,587 shares of the company’s stock valued at $124,000 after purchasing an additional 602 shares during the last quarter. Portland Investment Counsel Inc. acquired a new position in Nuvalent in the third quarter valued at $205,000. FORA Capital LLC acquired a new position in Nuvalent in the third quarter valued at $328,000. Valence8 US LP purchased a new stake in shares of Nuvalent in the third quarter valued at about $421,000. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Nuvalent during the third quarter worth about $496,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nuvalent

In related news, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $78.43, for a total value of $156,860.00. Following the sale, the director now directly owns 216,522 shares in the company, valued at $16,981,820.46. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $75.99, for a total transaction of $2,051,730.00. Following the completion of the sale, the chief executive officer now directly owns 249,062 shares in the company, valued at approximately $18,926,221.38. The trade was a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,800 shares of company stock valued at $6,556,534. Corporate insiders own 12.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NUVL shares. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Nuvalent in a research report on Monday, March 3rd. UBS Group upgraded Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Nuvalent in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.10.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $77.02 on Tuesday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -22.20 and a beta of 1.42. Nuvalent, Inc. has a 1 year low of $61.80 and a 1 year high of $113.51. The stock has a fifty day moving average price of $78.63 and a two-hundred day moving average price of $87.91.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). On average, analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current year.

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.