Analysts Set Nuvalent, Inc. (NASDAQ:NUVL) PT at $138.67

Nuvalent, Inc. (NASDAQ:NUVL) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and fifteen have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $138.6667.

NUVL has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their price objective on Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. UBS Group restated a “buy” rating on shares of Nuvalent in a research note on Wednesday, December 17th. Truist Financial set a $140.00 target price on Nuvalent in a research note on Monday, November 24th. JPMorgan Chase & Co. dropped their target price on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Thursday, January 22nd.

Nuvalent Price Performance

NASDAQ NUVL opened at $94.77 on Tuesday. The company has a market capitalization of $6.89 billion, a PE ratio of -16.20 and a beta of 1.32. The company has a fifty day moving average of $102.53 and a 200 day moving average of $97.68. Nuvalent has a 1 year low of $55.53 and a 1 year high of $113.01.

Insider Buying and Selling at Nuvalent

In other news, CFO Alexandra Balcom sold 3,181 shares of Nuvalent stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total transaction of $309,065.96. Following the completion of the transaction, the chief financial officer directly owned 81,733 shares of the company’s stock, valued at $7,941,178.28. The trade was a 3.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Deborah Ann Miller sold 14,300 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total transaction of $1,575,288.00. Following the completion of the transaction, the insider owned 59,634 shares of the company’s stock, valued at approximately $6,569,281.44. This represents a 19.34% 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 69,379 shares of company stock worth $6,940,982. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuvalent

Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of Nuvalent by 64.8% in the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after purchasing an additional 3,881 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Nuvalent by 54.4% during the first quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock worth $32,171,000 after purchasing an additional 159,873 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Nuvalent by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after purchasing an additional 12,123 shares during the period. Intech Investment Management LLC grew its holdings in Nuvalent by 28.7% in the first quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after purchasing an additional 4,293 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Nuvalent by 24.9% in the second quarter. Bank of New York Mellon Corp now owns 143,375 shares of the company’s stock valued at $10,940,000 after buying an additional 28,549 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.