Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $137.25.

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 27th. HC Wainwright reissued a “buy” rating and issued a $155.00 price objective on shares of Nuvalent in a research note on Tuesday, April 21st. Wedbush restated an “outperform” rating and issued a $125.00 target price on shares of Nuvalent in a research report on Wednesday, April 8th. Wells Fargo & Company started coverage on shares of Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st.

Nuvalent Price Performance

Shares of NUVL stock opened at $105.28 on Wednesday. The business has a fifty day simple moving average of $101.94 and a 200 day simple moving average of $102.35. The company has a market cap of $8.28 billion, a P/E ratio of -17.37 and a beta of 1.15. Nuvalent has a twelve month low of $68.64 and a twelve month high of $113.01.

Nuvalent (NASDAQ:NUVL) last released 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 in the previous year, the company posted ($1.18) earnings per share. As a group, equities research analysts anticipate that Nuvalent will post -5.79 earnings per share for the current fiscal year.

Insider Transactions at Nuvalent

In other news, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction dated 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 sale, the chief financial officer directly owned 85,533 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Richard Porter sold 30,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00. Following the sale, the chief executive officer owned 324,879 shares in the company, valued at approximately $33,036,945.51. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,023 shares of company stock valued at $8,235,217 over the last three months. Company insiders own 5.02% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

Institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new stake in shares of Nuvalent in the third quarter worth $107,794,000. Wellington Management Group LLP increased its holdings in Nuvalent by 46.0% in the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after purchasing an additional 724,491 shares during the period. Vanguard Group Inc. raised its position in Nuvalent by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after purchasing an additional 639,264 shares during the last quarter. Norges Bank acquired a new position in Nuvalent during the 4th quarter worth about $57,763,000. Finally, JPMorgan Chase & Co. lifted its holdings in Nuvalent by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after buying an additional 545,542 shares during the period. 97.26% of the stock is owned by institutional investors.

Nuvalent Company 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.