Nuvalent, Inc. (NASDAQ:NUVL) Receives Average Recommendation of “Hold” from Brokerages

Nuvalent, Inc. (NASDAQ:NUVL) has received an average recommendation of “Hold” from the twenty brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $127.7289.

A number of research analysts recently commented on NUVL shares. Piper Sandler downgraded shares of Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. HC Wainwright downgraded Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price objective on the stock. in a research report on Tuesday, June 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $124.00 price objective (up from $116.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Stifel Nicolaus set a $124.00 target price on Nuvalent in a report on Tuesday, June 9th. Finally, Barclays reissued an “equal weight” rating and set a $124.00 target price (down from $152.00) on shares of Nuvalent in a research report on Tuesday, June 9th.

Insider Activity

In other news, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $98.69, for a total value of $1,128,026.70. Following the completion of the sale, the chief financial officer owned 85,533 shares in the company, valued at approximately $8,441,251.77. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $323,156.64. Following the transaction, the insider directly owned 65,604 shares of the company’s stock, valued at approximately $6,854,305.92. This represents a 4.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,523 shares of company stock valued at $11,409,713 over the last ninety days. 5.02% of the stock is owned by corporate insiders.

Institutional Trading of Nuvalent

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Nuvalent by 20.0% during the first quarter. Bank of America Corp DE now owns 216,516 shares of the company’s stock valued at $22,182,000 after buying an additional 36,147 shares during the period. Tri Locum Partners LP boosted its holdings in Nuvalent by 0.4% during the 1st quarter. Tri Locum Partners LP now owns 308,506 shares of the company’s stock valued at $31,606,000 after acquiring an additional 1,135 shares during the period. EverSource Wealth Advisors LLC grew its position in Nuvalent by 141.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after acquiring an additional 195 shares during the last quarter. California State Teachers Retirement System grew its position in Nuvalent by 29.7% in the 1st quarter. California State Teachers Retirement System now owns 49,670 shares of the company’s stock valued at $5,089,000 after acquiring an additional 11,386 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Nuvalent by 1,537.9% in the first quarter. Royal Bank of Canada now owns 23,569 shares of the company’s stock worth $2,414,000 after purchasing an additional 22,130 shares during the period. Institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Performance

Shares of NUVL opened at $123.60 on Thursday. The stock has a market capitalization of $9.76 billion, a PE ratio of -20.40 and a beta of 1.14. The company’s fifty day moving average is $109.07 and its 200 day moving average is $104.87. Nuvalent has a fifty-two week low of $71.13 and a fifty-two week high of $123.69.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter last year, the company posted ($1.18) EPS. As a group, research analysts forecast that Nuvalent will post -5.74 earnings per share for the current year.

About Nuvalent

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.