Insider Selling: Nuvalent (NASDAQ:NUVL) CFO Sells 11,430 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total value of $1,202,550.30. Following the sale, the chief financial officer owned 85,533 shares of the company’s stock, valued at approximately $8,998,926.93. This represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Alexandra Balcom also recently made the following trade(s):

• On Tuesday, January 6th, Alexandra Balcom sold 3,181 shares of Nuvalent stock. The stock was sold at an average price of $97.16, for a total value of $309,065.96.
• On Monday, January 5th, Alexandra Balcom sold 4,236 shares of Nuvalent stock. The stock was sold at an average price of $97.32, for a total transaction of $412,247.52.

Nuvalent Price Performance

NASDAQ:NUVL remained flat at $105.43 during mid-day trading on Friday. The company had a trading volume of 992,147 shares, compared to its average volume of 596,857. The firm’s 50 day moving average price is $101.45 and its 200 day moving average price is $98.78. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of -18.02 and a beta of 1.31. Nuvalent, Inc. has a 1 year low of $55.53 and a 1 year high of $113.01.

Institutional Investors Weigh In On Nuvalent

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after acquiring an additional 108 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Nuvalent in the 3rd quarter valued at approximately $38,000. Eastern Bank bought a new position in shares of Nuvalent in the 3rd quarter valued at $52,000. NBC Securities Inc. acquired a new stake in shares of Nuvalent during the fourth quarter valued at about $125,000. Finally, KBC Group NV boosted its position in Nuvalent by 24.1% during the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NUVL shares. Wells Fargo & Company assumed coverage on Nuvalent in a report on Monday. They set an “overweight” rating and a $116.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Thursday, January 22nd. UBS Group reiterated a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Cantor Fitzgerald increased their price objective on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.25.

Nuvalent Company 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.