Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) CEO James Richard Porter sold 27,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $102.28, for a total transaction of $2,761,560.00. Following the completion of the sale, the chief executive officer now owns 188,113 shares of the company’s stock, valued at approximately $19,240,197.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Nuvalent Stock Up 1.5 %
Shares of NASDAQ NUVL opened at $103.68 on Friday. The business’s 50 day moving average is $92.41 and its two-hundred day moving average is $79.59. Nuvalent, Inc. has a 52-week low of $49.02 and a 52-week high of $113.51. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of -43.02 and a beta of 1.29.
Nuvalent (NASDAQ:NUVL – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same quarter in the previous year, the firm posted ($0.51) earnings per share. Analysts anticipate that Nuvalent, Inc. will post -3.52 EPS for the current fiscal year.
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Institutional Trading of Nuvalent
Several hedge funds have recently made changes to their positions in NUVL. Quest Partners LLC purchased a new stake in Nuvalent during the 2nd quarter worth approximately $44,000. Amalgamated Bank boosted its position in Nuvalent by 21.8% in the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after buying an additional 198 shares during the period. SG Americas Securities LLC acquired a new position in shares of Nuvalent in the first quarter worth $121,000. Allspring Global Investments Holdings LLC increased its position in shares of Nuvalent by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock worth $168,000 after acquiring an additional 189 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Nuvalent in the first quarter valued at $202,000. Institutional investors and hedge funds own 97.26% of the company’s stock.
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.
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