SG Americas Securities LLC Takes Position in Nuvalent, Inc. $NUVL

SG Americas Securities LLC purchased a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,836 shares of the company’s stock, valued at approximately $1,629,000.

A number of other institutional investors have also recently added to or reduced their stakes in NUVL. Voya Investment Management LLC grew its stake in shares of Nuvalent by 9.4% during the third quarter. Voya Investment Management LLC now owns 134,742 shares of the company’s stock valued at $11,652,000 after acquiring an additional 11,523 shares in the last quarter. Headlands Technologies LLC purchased a new position in Nuvalent in the second quarter valued at about $329,000. Tower Research Capital LLC TRC grew its stake in Nuvalent by 23.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the company’s stock valued at $240,000 after purchasing an additional 588 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in Nuvalent by 12.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,401 shares of the company’s stock worth $412,000 after purchasing an additional 616 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Nuvalent by 130.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 135,613 shares of the company’s stock worth $10,347,000 after purchasing an additional 76,834 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Activity

In other news, CEO James Richard Porter sold 17,890 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $97.32, for a total transaction of $1,741,054.80. Following the completion of the transaction, the chief executive officer owned 288,172 shares of the company’s stock, valued at approximately $28,044,899.04. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Deborah Ann Miller sold 24,200 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.50, for a total transaction of $2,553,100.00. Following the transaction, the insider owned 49,086 shares of the company’s stock, valued at $5,178,573. This represents a 33.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 943,266 shares of company stock worth $91,118,858 over the last 90 days. Insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Leerink Partners raised their price target on shares of Nuvalent from $140.00 to $149.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Stifel Nicolaus raised their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Truist Financial set a $140.00 target price on shares of Nuvalent in a research note on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $125.00 price target (up from $120.00) on shares of Nuvalent in a research note on Monday, November 17th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.33.

Nuvalent Stock Down 1.6%

Shares of NASDAQ NUVL opened at $106.16 on Friday. The firm’s 50-day moving average price is $103.70 and its two-hundred day moving average price is $89.90. Nuvalent, Inc. has a 52-week low of $55.53 and a 52-week high of $112.88. The stock has a market capitalization of $7.72 billion, a P/E ratio of -19.95 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same quarter in the prior year, the company earned ($1.28) earnings per share. As a group, equities research analysts expect that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Nuvalent Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.