Dimensional Fund Advisors LP Boosts Stake in Nuvalent, Inc. (NASDAQ:NUVL)

Dimensional Fund Advisors LP grew its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 80.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,089 shares of the company’s stock after purchasing an additional 155,276 shares during the quarter. Dimensional Fund Advisors LP owned about 0.54% of Nuvalent worth $26,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Global Management Ltd. lifted its position in shares of Nuvalent by 2,390.5% during the 1st quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock worth $107,902,000 after purchasing an additional 1,379,266 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Nuvalent by 56.5% during the fourth quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after acquiring an additional 1,205,668 shares during the period. Commodore Capital LP increased its stake in shares of Nuvalent by 60.6% during 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. 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 worth $214,735,000 after buying an additional 454,540 shares during the period. Finally, Vestal Point Capital LP acquired a new position in Nuvalent during the fourth quarter worth about $14,718,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Activity

In other Nuvalent news, CFO Alexandra Balcom sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $79.51, for a total transaction of $795,100.00. Following the sale, the chief financial officer now owns 33,300 shares of the company’s stock, valued at approximately $2,647,683. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Alexandra Balcom sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $79.51, for a total value of $795,100.00. Following the transaction, the chief financial officer now owns 33,300 shares of the company’s stock, valued at approximately $2,647,683. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, July 29th. The shares were sold at an average price of $79.59, for a total transaction of $159,180.00. Following the completion of the sale, the director now owns 230,522 shares in the company, valued at $18,347,245.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,629 shares of company stock worth $10,494,558. 12.52% of the stock is currently owned by corporate insiders.

Nuvalent Stock Up 0.5 %

NASDAQ NUVL opened at $103.56 on Thursday. The stock has a market capitalization of $6.69 billion, a PE ratio of -42.97 and a beta of 1.28. The company has a 50 day moving average price of $85.62 and a two-hundred day moving average price of $77.42. Nuvalent, Inc. has a 12-month low of $41.16 and a 12-month high of $113.51.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NUVL shares. BMO Capital Markets upped their price target on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Stifel Nicolaus increased their price target on shares of Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wedbush increased their price target on shares of Nuvalent from $99.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Barclays initiated coverage on shares of Nuvalent in a research report on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nuvalent currently has a consensus rating of “Moderate Buy” and an average price target of $111.00.

Nuvalent 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.