Deborah Ann Miller Sells 12,376 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 12,376 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $91.66, for a total value of $1,134,384.16. Following the completion of the transaction, the insider owned 49,086 shares of the company’s stock, valued at approximately $4,499,222.76. The trade was a 20.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, October 15th, Deborah Ann Miller sold 15,624 shares of Nuvalent stock. The stock was sold at an average price of $89.98, for a total value of $1,405,847.52.

Nuvalent Trading Up 2.3%

NUVL opened at $92.52 on Friday. The company has a market cap of $6.67 billion, a price-to-earnings ratio of -18.88 and a beta of 1.30. The stock has a fifty day simple moving average of $80.32 and a two-hundred day simple moving average of $76.98. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $104.81.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on NUVL shares. The Goldman Sachs Group raised shares of Nuvalent to a “strong-buy” rating in a research note on Monday, June 30th. Cantor Fitzgerald started coverage on Nuvalent in a research report on Wednesday. They set an “overweight” rating and a $135.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on Nuvalent in a research note on Thursday. They issued a “buy” rating and a $115.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Nuvalent in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nuvalent has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Institutional Trading of Nuvalent

Institutional investors and hedge funds have recently modified their holdings of the business. 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 worth $30,000 after purchasing an additional 359 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Nuvalent in the 1st quarter worth about $38,000. Covestor Ltd raised its position in Nuvalent by 705.7% in the 1st quarter. Covestor Ltd now owns 983 shares of the company’s stock worth $70,000 after buying an additional 861 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Nuvalent during the 2nd quarter valued at about $88,000. Finally, Farther Finance Advisors LLC lifted its stake in Nuvalent by 9,230.8% during the 2nd 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. Institutional investors own 97.26% of the company’s stock.

About Nuvalent

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.