Legato Capital Management LLC Increases Stake in Nuvalent, Inc. $NUVL

Legato Capital Management LLC lifted its stake in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 71.8% during the 4th quarter, HoldingsChannel reports. The fund owned 21,732 shares of the company’s stock after acquiring an additional 9,081 shares during the period. Legato Capital Management LLC’s holdings in Nuvalent were worth $2,186,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Nuvalent by 47.6% in the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Nuvalent in the third quarter valued at approximately $38,000. NBC Securities Inc. purchased a new position in Nuvalent in the fourth quarter valued at approximately $125,000. KBC Group NV raised its holdings in 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 period. Finally, Compass Wealth Management LLC purchased a new position in Nuvalent in the third quarter valued at approximately $172,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Insider Activity

In other news, insider Henry E. Pelish sold 3,093 shares of Nuvalent stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $104.48, for a total transaction of $323,156.64. Following the sale, the insider owned 65,604 shares in the company, valued at $6,854,305.92. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alexandra Balcom sold 11,430 shares of Nuvalent stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total transaction of $1,202,550.30. Following the sale, the chief financial officer owned 85,533 shares in the company, valued at $8,998,926.93. This represents a 11.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 80,023 shares of company stock worth $8,235,217. Company insiders own 5.02% of the company’s stock.

Nuvalent Stock Up 0.9%

NUVL opened at $102.12 on Friday. The firm has a market capitalization of $8.07 billion, a P/E ratio of -16.85 and a beta of 1.15. The firm’s 50 day moving average is $102.18 and its 200-day moving average is $102.76. Nuvalent, Inc. has a 52-week low of $70.25 and a 52-week high of $113.01.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data 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 prior year, the firm posted ($1.18) EPS. Equities analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NUVL shares. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Nuvalent in a report on Wednesday, April 8th. HC Wainwright restated a “buy” rating and issued a $155.00 price target on shares of Nuvalent in a report on Tuesday, April 21st. Sanford C. Bernstein started coverage on shares of Nuvalent in a report on Thursday. They issued an “outperform” rating and a $189.00 price target on the stock. Cantor Fitzgerald raised 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. Finally, Wells Fargo & Company started coverage on shares of Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.29.

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.