Nuvalent (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 15,624 Shares

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 15,624 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $89.98, for a total transaction of $1,405,847.52. Following the completion of the transaction, the insider directly owned 49,086 shares in the company, valued at $4,416,758.28. This trade represents a 24.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, October 16th, Deborah Ann Miller sold 12,376 shares of Nuvalent stock. The stock was sold at an average price of $91.66, for a total transaction of $1,134,384.16.

Nuvalent Stock Performance

NUVL stock opened at $92.52 on Friday. Nuvalent, Inc. has a one year low of $55.53 and a one year high of $104.81. The company’s fifty day moving average price is $80.32 and its 200-day moving average price is $76.93. The company has a market capitalization of $6.67 billion, a PE ratio of -18.88 and a beta of 1.30.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, August 7th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.04). During the same period in the previous year, the firm earned ($0.88) EPS. On average, research analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvalent

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its stake in shares of Nuvalent by 588.5% in the first quarter. CWM LLC now owns 420 shares of the company’s stock valued at $30,000 after acquiring an additional 359 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Nuvalent in the first quarter valued at $38,000. Covestor Ltd raised its stake in shares of Nuvalent by 705.7% in the first quarter. Covestor Ltd now owns 983 shares of the company’s stock valued at $70,000 after acquiring an additional 861 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Nuvalent in the second quarter valued at $88,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Nuvalent by 9,230.8% in the second quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock valued at $93,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Analysts Set New Price Targets

NUVL has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Nuvalent in a report on Monday, September 8th. Cantor Fitzgerald started coverage on shares of Nuvalent in a research note on Wednesday. They set an “overweight” rating and a $135.00 price target on the stock. Piper Sandler started coverage on shares of Nuvalent in a research note on Tuesday, August 19th. They set an “overweight” rating and a $112.00 price target on the stock. Stifel Nicolaus started coverage on shares of Nuvalent in a research note on Thursday. They set a “buy” rating and a $115.00 price target on the stock. Finally, Robert W. Baird upped their price target on shares of Nuvalent from $105.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nuvalent presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.