Seven Fleet Capital Management LP Invests $1.27 Million in Nuvalent, Inc. $NUVL

Seven Fleet Capital Management LP bought a new stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,601 shares of the company’s stock, valued at approximately $1,268,000. Nuvalent makes up approximately 1.0% of Seven Fleet Capital Management LP’s holdings, making the stock its 16th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its stake in Nuvalent by 29.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,319,963 shares of the company’s stock worth $132,776,000 after acquiring an additional 298,727 shares during the last quarter. Invesco Ltd. lifted its position in Nuvalent by 1,201.4% in the fourth quarter. Invesco Ltd. now owns 439,300 shares of the company’s stock worth $44,189,000 after buying an additional 405,543 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Nuvalent in the 4th quarter worth about $1,559,000. Ikarian Capital LLC bought a new stake in Nuvalent in the fourth quarter worth about $5,995,000. Finally, Virtus Investment Advisers LLC lifted its stake in shares of Nuvalent by 73.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 2,538 shares of the company’s stock worth $255,000 after acquiring an additional 1,077 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUVL. Stifel Nicolaus set a $124.00 price objective on shares of Nuvalent in a research note on Tuesday, June 9th. Cantor Fitzgerald cut shares of Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Lifesci Capital cut shares of Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target for the company. in a research report on Tuesday, June 9th. Raymond James Financial lowered shares of Nuvalent from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Finally, Guggenheim lowered Nuvalent from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $151.00 to $124.00 in a research report on Wednesday, June 10th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $131.15.

Insider Buying and Selling at Nuvalent

In related news, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the transaction, the chief financial officer owned 85,533 shares in the company, valued at approximately $8,998,926.93. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the completion of the transaction, the insider owned 59,634 shares in the company, valued at $6,430,930.56. The trade was a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 126,953 shares of company stock valued at $12,612,264. Company insiders own 5.02% of the company’s stock.

Nuvalent Price Performance

NASDAQ:NUVL opened at $123.43 on Friday. The company has a 50 day moving average price of $105.75 and a 200-day moving average price of $103.80. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of -20.37 and a beta of 1.15. Nuvalent, Inc. has a 1-year low of $71.13 and a 1-year high of $123.62.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data 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 business posted ($1.18) EPS. On average, sell-side analysts anticipate that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal year.

Nuvalent 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.