Nuvalent (NASDAQ:NUVL) Insider Henry Pelish Sells 2,664 Shares of Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Henry Pelish sold 2,664 shares of Nuvalent stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.17, for a total transaction of $258,860.88. Following the completion of the transaction, the insider owned 65,888 shares of the company’s stock, valued at $6,402,336.96. This trade represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Nuvalent Stock Up 9.9%

Nuvalent stock opened at $106.82 on Thursday. The firm has a market cap of $7.77 billion, a PE ratio of -20.08 and a beta of 1.32. Nuvalent, Inc. has a 52-week low of $55.53 and a 52-week high of $112.88. The company’s 50 day moving average is $102.64 and its two-hundred day moving average is $88.91.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period last year, the business posted ($1.28) EPS. On average, equities research analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Trading of Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Nuvalent in the third quarter valued at $1,297,000. Cantor Fitzgerald L. P. purchased a new position in shares of Nuvalent during the third quarter worth about $1,946,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Nuvalent during the third quarter worth about $396,000. Finally, Woodline Partners LP increased its position in shares of Nuvalent by 18.3% during the third quarter. Woodline Partners LP now owns 1,069,520 shares of the company’s stock worth $92,492,000 after purchasing an additional 165,288 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent News Roundup

Here are the key news stories impacting Nuvalent this week:

• Negative Sentiment: CEO James R. Porter sold 17,890 shares on Jan. 5 at an average $97.32 for $1.741M (ownership down ~5.85%). SEC Filing
• Negative Sentiment: CEO James R. Porter sold an additional 9,543 shares on Jan. 6 at ~$97.16 for $927k (ownership down ~3.31% after the sale). SEC Filing
• Negative Sentiment: CFO Alexandra Balcom sold 4,236 shares on Jan. 5 at $97.32 (~$412k) and 3,181 shares on Jan. 6 at $97.16 (~$309k), reducing her stake by ~4.75% and ~3.75% respectively. SEC Filing
• Negative Sentiment: Director/insider Christopher D. Turner sold 4,236 shares on Jan. 5 and 3,181 shares on Jan. 6 at ~ $97.32 / $97.16, cutting his stake by roughly 6.8% and 5.5%. SEC Filing
• Negative Sentiment: Insider Deborah A. Miller sold 4,363 shares on Jan. 5 (~$424.6k) and 2,589 shares on Jan. 6 (~$251.5k), reducing her position by ~8.9% and ~5.8%. SEC Filing
• Negative Sentiment: Insider Henry E. Pelish sold 2,496 shares on Jan. 5 (~$242.9k) and 2,664 shares on Jan. 6 (~$258.9k), trimming his stake by ~3.5% and ~3.9%. SEC Filing

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price target on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. UBS Group reissued a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Cantor Fitzgerald began coverage on shares of Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Canaccord Genuity Group started coverage on shares of Nuvalent in a research report on Wednesday, November 12th. They issued a “buy” rating and a $126.00 price objective on the stock. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

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.