Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) insider Henry E. Pelish sold 32,795 shares of Nuvalent stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.92, for a total value of $3,244,081.40. Following the completion of the transaction, the insider now owns 33,300 shares in the company, valued at approximately $3,294,036. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Nuvalent Stock Performance
Shares of NUVL opened at $102.63 on Thursday. The firm has a market cap of $6.63 billion, a PE ratio of -42.59 and a beta of 1.28. Nuvalent, Inc. has a 52-week low of $41.16 and a 52-week high of $113.51. The business’s 50 day moving average price is $80.68 and its two-hundred day moving average price is $75.97.
Nuvalent (NASDAQ:NUVL – Get Free Report) last released its 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 business posted ($0.51) EPS. Research analysts predict that Nuvalent, Inc. will post -3.55 EPS for the current fiscal year.
Analyst Ratings Changes
Check Out Our Latest Stock Report on Nuvalent
Hedge Funds Weigh In On Nuvalent
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Algert Global LLC acquired a new position in Nuvalent during the 2nd quarter worth approximately $224,000. Driehaus Capital Management LLC raised its position in shares of Nuvalent by 3.5% during the second quarter. Driehaus Capital Management LLC now owns 696,607 shares of the company’s stock worth $52,845,000 after purchasing an additional 23,730 shares during the period. Affinity Asset Advisors LLC raised its position in shares of Nuvalent by 33.3% during the second quarter. Affinity Asset Advisors LLC now owns 200,000 shares of the company’s stock worth $15,172,000 after purchasing an additional 50,000 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Nuvalent by 62.2% in the 2nd quarter. Squarepoint Ops LLC now owns 77,099 shares of the company’s stock worth $5,849,000 after purchasing an additional 29,571 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in Nuvalent by 6.2% in the 2nd quarter. Fred Alger Management LLC now owns 578,130 shares of the company’s stock valued at $43,857,000 after purchasing an additional 33,758 shares during the period. Institutional investors 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.
Further Reading
- Five stocks we like better than Nuvalent
- What is a Secondary Public Offering? What Investors Need to Know
- Why General Mills Is the Perfect Hedge for S&P 500 Volatility
- Investing in the High PE Growth Stocks
- Viking Therapeutics Is Having a Year to Remember: Time to Buy?
- EV Stocks and How to Profit from Them
- Leverage Proven Stock Factors With These Top 3 Smart Beta ETFs
Receive News & Ratings for Nuvalent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvalent and related companies with MarketBeat.com's FREE daily email newsletter.