Cantor Fitzgerald Raises Nuvalent (NASDAQ:NUVL) Price Target to $140.00

Nuvalent (NASDAQ:NUVL) had its target price boosted by investment analysts at Cantor Fitzgerald from $135.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 36.49% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Guggenheim boosted their price target on Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. 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 report on Friday, December 19th. Truist Financial set a $140.00 price target on shares of Nuvalent in a research report on Monday, November 24th. Wedbush restated 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. Finally, Stifel Nicolaus increased their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $138.67.

Nuvalent Trading Down 1.3%

NASDAQ:NUVL traded down $1.36 on Friday, hitting $102.57. 7,101 shares of the stock were exchanged, compared to its average volume of 529,464. The stock has a market cap of $7.46 billion, a PE ratio of -19.34 and a beta of 1.32. Nuvalent has a fifty-two week low of $55.53 and a fifty-two week high of $113.01. The stock has a fifty day moving average of $103.53 and a 200-day moving average of $94.87.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.10). During the same quarter in the previous year, the firm posted ($1.05) EPS. As a group, analysts predict that Nuvalent will post -3.86 earnings per share for the current year.

Insider Buying and Selling at Nuvalent

In related news, CEO James Richard Porter sold 9,543 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the completion of the sale, the chief executive officer owned 278,629 shares in the company, valued at approximately $27,071,593.64. This represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deborah Ann Miller sold 14,300 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $110.16, for a total value of $1,575,288.00. Following the completion of the sale, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $6,569,281.44. This trade represents a 19.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,463 shares of company stock valued at $7,722,489 over the last 90 days. 10.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvalent

A number of institutional investors have recently modified their holdings of NUVL. GAMMA Investing LLC raised its holdings in shares of Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Nuvalent during the third quarter worth $38,000. Eastern Bank bought a new stake in shares of Nuvalent in the third quarter valued at about $52,000. Persistent Asset Partners Ltd acquired a new position in shares of Nuvalent in the 2nd quarter valued at $88,000. Finally, CWM LLC grew its stake in Nuvalent by 253.8% during the second quarter. CWM LLC now owns 1,486 shares of the company’s stock worth $113,000 after buying an additional 1,066 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.