Insider Selling: Nuvalent (NASDAQ:NUVL) CFO Sells $1,412,519.40 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the sale, the chief financial officer directly owned 85,533 shares in the company, valued at $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alexandra Balcom also recently made the following trade(s):

• On Monday, June 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The stock was sold at an average price of $98.69, for a total transaction of $1,128,026.70.

Nuvalent Price Performance

NASDAQ NUVL opened at $123.80 on Thursday. The company has a market capitalization of $9.78 billion, a PE ratio of -20.43 and a beta of 1.14. The company has a fifty day moving average of $110.79 and a 200 day moving average of $105.60. Nuvalent, Inc. has a 1 year low of $71.13 and a 1 year high of $123.85.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter last year, the business earned ($1.18) earnings per share. Research analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Institutional Trading of Nuvalent

Institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new position in Nuvalent in the 3rd quarter valued at about $107,794,000. Wellington Management Group LLP lifted its position in shares of 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 acquiring an additional 724,491 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Nuvalent by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock valued at $527,521,000 after acquiring an additional 639,264 shares in the last quarter. Norges Bank acquired a new stake in shares of Nuvalent in the fourth quarter worth approximately $57,763,000. Finally, JPMorgan Chase & Co. increased its position in shares of Nuvalent by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock worth $221,826,000 after purchasing an additional 545,542 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. TD Cowen lowered shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target on the stock. in a research report on Tuesday, June 9th. Raymond James Financial cut shares of Nuvalent from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Guggenheim downgraded shares of Nuvalent from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $151.00 to $124.00 in a research report on Wednesday, June 10th. Finally, Leerink Partners set a $165.00 target price on Nuvalent in a research report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $127.73.

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.