Tema ETFs LLC Lowers Stock Position in Nuvalent, Inc. $NUVL

Tema ETFs LLC trimmed its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 22.9% during the second quarter, HoldingsChannel.com reports. The fund owned 41,187 shares of the company’s stock after selling 12,228 shares during the period. Tema ETFs LLC’s holdings in Nuvalent were worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock worth $34,000 after purchasing an additional 195 shares during the period. GAMMA Investing LLC increased its stake in Nuvalent by 36.9% in the second quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $65,000 after purchasing an additional 141 shares during the period. NBC Securities Inc. purchased a new stake in shares of Nuvalent in the fourth quarter valued at about $125,000. KBC Group NV raised its holdings in shares of Nuvalent by 24.1% in the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after buying an additional 297 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Nuvalent by 10.0% in the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Insider Activity at Nuvalent

In other news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction dated Wednesday, July 1st. The shares were 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. This trade represents a 11.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Henry E. Pelish sold 2,111 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $123.81, for a total transaction of $261,362.91. Following the completion of the sale, the insider owned 63,493 shares of the company’s stock, valued at $7,861,068.33. This trade represents a 3.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 90,471 shares of company stock valued at $9,762,529 over the last 90 days. Company insiders own 5.02% of the company’s stock.

Nuvalent Price Performance

Shares of NUVL stock opened at $123.96 on Wednesday. The business’s fifty day moving average price is $121.11 and its 200 day moving average price is $109.07. The firm has a market capitalization of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a 1-year low of $71.13 and a 1-year high of $123.99.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group lowered Nuvalent from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $138.00 to $124.00 in a report on Wednesday, June 10th. HC Wainwright downgraded Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 price objective for the company. in a research note on Tuesday, June 9th. Barclays reaffirmed an “equal weight” rating and set a $124.00 price objective (down from $152.00) on shares of Nuvalent in a research report on Tuesday, June 9th. Wedbush downgraded Nuvalent from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $124.00 in a research note on Tuesday, June 9th. Finally, Robert W. Baird set a $122.85 target price on Nuvalent in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently 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.