HC Wainwright Brokers Reduce Earnings Estimates for Nuvalent

Nuvalent, Inc. (NASDAQ:NUVL) – Investment analysts at HC Wainwright reduced their FY2029 earnings per share (EPS) estimates for shares of Nuvalent in a report released on Monday, March 2nd. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings of $6.52 per share for the year, down from their prior forecast of $6.77. HC Wainwright has a “Buy” rating and a $155.00 price objective on the stock. The consensus estimate for Nuvalent’s current full-year earnings is ($3.86) per share.

Several other analysts also recently weighed in on the company. Leerink Partners lifted their price objective on Nuvalent from $140.00 to $149.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Stifel Nicolaus boosted their price target on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a report on Monday, November 17th. UBS Group reaffirmed a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. Truist Financial set a $140.00 price objective on shares of Nuvalent in a report on Monday, November 24th. Finally, Canaccord Genuity Group began coverage on shares of Nuvalent in a research note on Wednesday, November 12th. They issued a “buy” rating and a $126.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Nuvalent presently has a consensus rating of “Moderate Buy” and an average target price of $138.67.

Nuvalent Trading Down 1.1%

NUVL opened at $100.22 on Wednesday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -17.13 and a beta of 1.32. Nuvalent has a 12-month low of $55.53 and a 12-month high of $113.01. The business’s fifty day simple moving average is $103.31 and its 200-day simple moving average is $95.64.

Insider Transactions at Nuvalent

In other Nuvalent news, insider Deborah Ann Miller sold 14,300 shares of Nuvalent stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $110.16, for a total value of $1,575,288.00. Following the transaction, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $6,569,281.44. The trade was a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexandra Balcom sold 7,084 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $110.32, for a total value of $781,506.88. Following the sale, the chief financial officer owned 54,650 shares of the company’s stock, valued at approximately $6,028,988. This represents a 11.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 76,463 shares of company stock worth $7,722,489. 10.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP purchased a new stake in Nuvalent in the fourth quarter valued at about $1,268,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 valued at $132,776,000 after acquiring an additional 298,727 shares in the last quarter. Invesco Ltd. raised its position in shares of Nuvalent by 1,201.4% in the 4th quarter. Invesco Ltd. now owns 439,300 shares of the company’s stock valued at $44,189,000 after purchasing an additional 405,543 shares during the last quarter. XTX Topco Ltd acquired a new stake in Nuvalent in the 4th quarter worth approximately $1,559,000. Finally, Ikarian Capital LLC purchased a new stake in Nuvalent during the 4th quarter worth approximately $5,995,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.