Nuvalent, Inc. $NUVL Shares Acquired by Polar Capital Holdings Plc

Polar Capital Holdings Plc lifted its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 50.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,536,859 shares of the company’s stock after purchasing an additional 514,634 shares during the period. Polar Capital Holdings Plc’s holdings in Nuvalent were worth $154,593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NUVL. HighVista Strategies LLC boosted its stake in shares of Nuvalent by 84.9% in the 3rd quarter. HighVista Strategies LLC now owns 93,294 shares of the company’s stock valued at $8,068,000 after buying an additional 42,834 shares during the period. Hudson Bay Capital Management LP purchased a new stake in shares of Nuvalent during the third quarter worth approximately $1,297,000. Aberdeen Group plc increased its stake in shares of Nuvalent by 115.4% during the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company’s stock worth $16,615,000 after buying an additional 88,489 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in Nuvalent in the third quarter valued at approximately $1,946,000. Finally, Vanguard Group Inc. raised its holdings in Nuvalent by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,605,007 shares of the company’s stock valued at $398,241,000 after acquiring an additional 80,883 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Nuvalent Trading Up 0.0%

Shares of NASDAQ:NUVL opened at $123.39 on Wednesday. The company has a market capitalization of $9.75 billion, a PE ratio of -20.36 and a beta of 1.15. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $123.62. The firm has a 50 day simple moving average of $104.93 and a 200-day simple moving average of $103.61.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period last year, the firm posted ($1.18) EPS. As a group, equities research analysts predict that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Insider Activity at Nuvalent

In other news, CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $88.53, for a total transaction of $2,655,900.00. Following the sale, the chief executive officer owned 324,879 shares in the company, valued at approximately $28,761,537.87. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total value of $1,202,550.30. Following the sale, the chief financial officer owned 85,533 shares in the company, valued at $8,998,926.93. This trade represents a 11.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 126,953 shares of company stock worth $12,612,264. Insiders own 5.02% of the company’s stock.

Wall Street Analyst Weigh In

NUVL has been the subject of several analyst reports. HC Wainwright cut shares of Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price target for the company. in a report on Tuesday, June 9th. Piper Sandler downgraded shares of Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 target price for the company. in a research note on Tuesday, June 9th. Sanford C. Bernstein restated an “outperform” rating on shares of Nuvalent in a research note on Wednesday, June 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $124.00 price target (up from $116.00) on shares of Nuvalent in a report on Tuesday, June 9th. Finally, Robert W. Baird set a $122.85 price objective on Nuvalent in a research report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $131.15.

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.