Nuvalent, Inc. $NUVL Shares Acquired by Profund Advisors LLC

Profund Advisors LLC boosted its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 64.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,536 shares of the company’s stock after purchasing an additional 6,849 shares during the quarter. Profund Advisors LLC’s holdings in Nuvalent were worth $1,764,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after purchasing an additional 639,264 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Nuvalent by 46.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after buying an additional 724,491 shares during the last quarter. State Street Corp increased its holdings in shares of Nuvalent by 4.2% during the 2nd quarter. State Street Corp now owns 1,490,279 shares of the company’s stock worth $113,708,000 after buying an additional 59,620 shares during the last quarter. Commodore Capital LP raised its position in shares of Nuvalent by 1.8% in the 3rd quarter. Commodore Capital LP now owns 1,400,000 shares of the company’s stock worth $121,072,000 after buying an additional 25,000 shares during the period. Finally, RA Capital Management L.P. acquired a new position in Nuvalent in the third quarter valued at $107,794,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $8,998,926.93. The trade was a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Henry E. Pelish sold 3,093 shares of Nuvalent stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $104.48, for a total value of $323,156.64. Following the sale, the insider directly owned 65,604 shares in the company, valued at approximately $6,854,305.92. The trade was a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,023 shares of company stock valued at $8,235,217 over the last ninety days. Insiders own 5.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $155.00 price objective on shares of Nuvalent in a research note on Tuesday, April 21st. Cantor Fitzgerald raised their price objective on Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Wells Fargo & Company initiated coverage on Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Nuvalent in a research note on Wednesday, April 8th. Sixteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nuvalent presently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

Nuvalent Trading Up 1.3%

Shares of NUVL stock opened at $102.32 on Thursday. The company has a market capitalization of $8.08 billion, a PE ratio of -16.88 and a beta of 1.15. The firm has a fifty day simple moving average of $102.16 and a 200-day simple moving average of $102.75. Nuvalent, Inc. has a twelve month low of $70.25 and a twelve month high of $113.01.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period in the previous year, the firm earned ($1.18) EPS. Equities research analysts predict that Nuvalent, Inc. will post -5.74 EPS 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.