Nuvalent (NASDAQ:NUVL) CEO James Richard Porter Sells 30,000 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) CEO James Richard Porter sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $123.72, for a total value of $3,711,600.00. Following the transaction, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at approximately $40,194,029.88. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Richard Porter also recently made the following trade(s):

• On Monday, June 8th, James Richard Porter sold 30,000 shares of Nuvalent stock. The shares were sold at an average price of $88.53, for a total transaction of $2,655,900.00.
• On Monday, May 4th, James Richard Porter sold 30,000 shares of Nuvalent stock. The stock was sold at an average price of $101.69, for a total transaction of $3,050,700.00.

Nuvalent Stock Up 0.0%

NUVL traded up $0.01 during trading hours on Wednesday, hitting $123.78. 1,156,097 shares of the company’s stock were exchanged, compared to its average volume of 1,351,600. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of -20.43 and a beta of 1.14. Nuvalent, Inc. has a 1-year low of $71.13 and a 1-year high of $123.85. The stock’s 50-day moving average is $110.40 and its two-hundred day moving average is $105.44.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings results 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 period in the previous year, the company earned ($1.18) EPS. On average, equities research analysts anticipate that Nuvalent, Inc. will post -5.74 EPS for the current year.

Institutional Trading of Nuvalent

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Nuvalent by 47.6% during the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the period. Kennedy Capital Management LLC raised its stake in Nuvalent by 1.5% in the 4th quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock valued at $1,100,000 after acquiring an additional 163 shares during the period. US Bancorp DE lifted its holdings in Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after purchasing an additional 188 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares during the last quarter. Finally, AlphaCentric Advisors LLC boosted its position in Nuvalent by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock worth $477,000 after purchasing an additional 253 shares during the period. 97.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird set a $122.85 price target on Nuvalent in a research report on Tuesday, June 9th. Truist Financial cut Nuvalent from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $140.00 to $124.00 in a research note on Tuesday, June 9th. Cantor Fitzgerald cut shares of Nuvalent from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Finally, HC Wainwright lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price target on the stock. in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nuvalent has an average rating of “Hold” and an average price target of $127.73.

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.