Nuvalent, Inc. (NASDAQ:NUVL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $141.2353.

Several analysts have commented on NUVL shares. Wells Fargo & Company started coverage on shares of Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Sanford C. Bernstein started coverage on shares of Nuvalent in a report on Thursday, May 21st. They issued an “outperform” rating and a $189.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Nuvalent in a report on Tuesday. Finally, Leerink Partners set a $165.00 price objective on shares of Nuvalent in a report on Wednesday.

Insider Activity at Nuvalent

In other Nuvalent news, insider Henry E. Pelish sold 3,093 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $104.48, for a total value of $323,156.64. Following the completion of the sale, the insider directly owned 65,604 shares in the company, valued at $6,854,305.92. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $107.84, for a total transaction of $593,120.00. Following the completion of the sale, the insider owned 59,634 shares of the company’s stock, valued at $6,430,930.56. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 96,953 shares of company stock valued at $9,956,364. 5.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvalent

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake 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 purchasing an additional 36,147 shares in the last quarter. Tri Locum Partners LP increased its stake in shares of Nuvalent by 0.4% during the first quarter. Tri Locum Partners LP now owns 308,506 shares of the company’s stock valued at $31,606,000 after purchasing an additional 1,135 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Nuvalent by 141.3% during the first quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Nuvalent by 29.7% during the first quarter. California State Teachers Retirement System now owns 49,670 shares of the company’s stock valued at $5,089,000 after purchasing an additional 11,386 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Nuvalent by 1,537.9% during the first quarter. Royal Bank of Canada now owns 23,569 shares of the company’s stock valued at $2,414,000 after purchasing an additional 22,130 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Nuvalent Trading Up 4.3%

Nuvalent stock opened at $94.02 on Friday. The firm has a 50-day moving average of $102.71 and a 200-day moving average of $103.20. The firm has a market cap of $7.43 billion, a P/E ratio of -15.51 and a beta of 1.15. Nuvalent has a 1-year low of $71.13 and a 1-year high of $113.01.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same period in the prior year, the firm posted ($1.18) EPS. Research analysts forecast that Nuvalent will post -5.78 earnings per share for the current fiscal year.

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.