Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $69.50.
NUVL has been the subject of a number of recent analyst reports. Robert W. Baird started coverage on Nuvalent in a research note on Friday. They set an “outperform” rating and a $105.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $99.00 price target (up previously from $82.00) on shares of Nuvalent in a research report on Monday, February 12th.
Check Out Our Latest Research Report on Nuvalent
Nuvalent Trading Up 4.8 %
Insider Activity at Nuvalent
In other Nuvalent news, CFO Alexandra Balcom sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $75.82, for a total transaction of $2,274,600.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Nuvalent news, Director Matthew Shair sold 69,602 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $75.12, for a total transaction of $5,228,502.24. Following the completion of the transaction, the director now owns 1,774,246 shares of the company’s stock, valued at approximately $133,281,359.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alexandra Balcom sold 30,000 shares of Nuvalent stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $75.82, for a total transaction of $2,274,600.00. The disclosure for this sale can be found here. Insiders have sold 202,300 shares of company stock worth $15,143,978 in the last ninety days. Company insiders own 14.77% of the company’s stock.
Institutional Investors Weigh In On Nuvalent
Several large investors have recently made changes to their positions in NUVL. Price T Rowe Associates Inc. MD increased its holdings in shares of Nuvalent by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,106,382 shares of the company’s stock worth $81,419,000 after acquiring an additional 299,446 shares during the last quarter. Legal & General Group Plc raised its position in shares of Nuvalent by 26.5% in the fourth quarter. Legal & General Group Plc now owns 28,182 shares of the company’s stock valued at $2,074,000 after purchasing an additional 5,895 shares during the period. Barclays PLC lifted its stake in shares of Nuvalent by 71.9% during the 4th quarter. Barclays PLC now owns 88,105 shares of the company’s stock worth $6,484,000 after buying an additional 36,862 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Nuvalent by 56.5% during the 4th quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after buying an additional 1,205,668 shares during the period. Finally, Voya Investment Management LLC grew its stake in Nuvalent by 800.4% in the 4th quarter. Voya Investment Management LLC now owns 86,707 shares of the company’s stock valued at $6,381,000 after buying an additional 77,077 shares during the last quarter. Institutional investors and hedge funds 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 brain-penetrant ROS1-selective inhibitor to inhibit ROS1 fusions that express the normal ROS1 kinase domain without any drug-resistant mutations and remain active in the presence of mutations conferring resistance to approved and investigational ROS1 inhibitors, which is under Phase I development; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, central nervous system-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under Phase ½ 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 ongoing IND-enabling studies.
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