Nuvalent, Inc. $NUVL is Perceptive Advisors LLC’s 7th Largest Position

Perceptive Advisors LLC lifted its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,665,105 shares of the company’s stock after acquiring an additional 102,769 shares during the period. Nuvalent comprises about 3.0% of Perceptive Advisors LLC’s holdings, making the stock its 7th biggest position. Perceptive Advisors LLC’s holdings in Nuvalent were worth $167,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUVL. AQR Capital Management LLC raised its position in shares of Nuvalent by 64.8% in the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after purchasing an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nuvalent by 54.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after purchasing an additional 159,873 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nuvalent by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after purchasing an additional 12,123 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Nuvalent by 28.7% in the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after purchasing an additional 4,293 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Nuvalent in the 2nd quarter valued at approximately $412,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Nuvalent Trading Down 0.0%

NUVL opened at $123.36 on Thursday. Nuvalent, Inc. has a 12-month low of $71.13 and a 12-month high of $123.62. The firm has a market capitalization of $9.75 billion, a PE ratio of -20.36 and a beta of 1.15. The firm has a 50 day moving average of $105.32 and a two-hundred day moving average of $103.71.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm earned ($1.18) EPS. As a group, analysts predict that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial lowered shares of Nuvalent from a “buy” rating to a “hold” rating and decreased their price objective for the company from $140.00 to $124.00 in a research report on Tuesday, June 9th. Cantor Fitzgerald lowered shares of Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. TD Cowen lowered shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a research report on Tuesday, June 9th. Lifesci Capital lowered shares of Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target for the company. in a research report on Tuesday, June 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $131.15.

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 completion of the transaction, the insider directly owned 65,604 shares of the company’s stock, valued at $6,854,305.92. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 126,953 shares of company stock valued at $12,612,264 in the last quarter. Company insiders own 5.02% of the company’s stock.

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.