Commodore Capital LP Acquires 283,600 Shares of Nuvalent, Inc. $NUVL

Commodore Capital LP raised its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 51.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 833,600 shares of the company’s stock after buying an additional 283,600 shares during the period. Nuvalent makes up about 4.9% of Commodore Capital LP’s investment portfolio, making the stock its 8th largest holding. Commodore Capital LP owned approximately 1.06% of Nuvalent worth $85,402,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Nuvalent by 64.8% during the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock worth $700,000 after buying an additional 3,881 shares during the period. Goldman Sachs Group Inc. boosted its stake in Nuvalent by 54.4% in the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nuvalent by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock worth $10,634,000 after purchasing an additional 12,123 shares in the last quarter. Intech Investment Management LLC grew its position in Nuvalent by 28.7% during the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock worth $1,366,000 after purchasing an additional 4,293 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Nuvalent during the 2nd quarter valued at $412,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $107.84, for a total value of $593,120.00. Following the sale, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $6,430,930.56. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the transaction, the chief financial officer owned 85,533 shares in the company, valued at $10,570,168.14. The trade was a 11.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 125,971 shares of company stock valued at $13,358,939. 5.02% of the stock is owned by company insiders.

Nuvalent Price Performance

Shares of NUVL stock opened at $123.96 on Monday. Nuvalent, Inc. has a 12 month low of $71.13 and a 12 month high of $123.99. The company has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. The business’s 50 day moving average is $115.86 and its two-hundred day moving average is $107.40.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter last year, the business posted ($1.18) EPS. As a group, equities analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NUVL shares. Piper Sandler downgraded Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 price objective for the company. in a research note on Tuesday, June 9th. Stifel Nicolaus set a $124.00 target price on Nuvalent in a research note on Tuesday, June 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Lifesci Capital lowered 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. Finally, 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. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nuvalent has a consensus rating of “Hold” and a consensus target price of $127.73.

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.