Deborah Ann Miller Sells 14,300 Shares of Nuvalent (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 14,300 shares of Nuvalent stock in a transaction dated 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 completion of the sale, the insider owned 59,634 shares of the company’s stock, valued at $6,569,281.44. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Deborah Ann Miller also recently made the following trade(s):

• On Wednesday, January 21st, Deborah Ann Miller sold 700 shares of Nuvalent stock. The stock was sold at an average price of $109.84, for a total value of $76,888.00.
• On Tuesday, January 6th, Deborah Ann Miller sold 2,589 shares of Nuvalent stock. The stock was sold at an average price of $97.16, for a total value of $251,547.24.
• On Monday, January 5th, Deborah Ann Miller sold 4,363 shares of Nuvalent stock. The shares were sold at an average price of $97.32, for a total value of $424,607.16.
• On Monday, November 17th, Deborah Ann Miller sold 24,200 shares of Nuvalent stock. The stock was sold at an average price of $105.50, for a total value of $2,553,100.00.
• On Thursday, October 30th, Deborah Ann Miller sold 21,800 shares of Nuvalent stock. The shares were sold at an average price of $103.16, for a total transaction of $2,248,888.00.

Nuvalent Price Performance

NUVL traded down $5.55 on Friday, reaching $106.44. The company’s stock had a trading volume of 448,397 shares, compared to its average volume of 619,348. Nuvalent, Inc. has a 1 year low of $55.53 and a 1 year high of $113.01. The business’s 50 day moving average is $104.92 and its 200 day moving average is $90.87. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of -20.01 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same period last year, the company posted ($1.28) EPS. As a group, research analysts forecast that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NUVL shares. JPMorgan Chase & Co. dropped their price target on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. The Goldman Sachs Group increased their price objective on shares of Nuvalent from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. HC Wainwright lifted their target price on Nuvalent from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Canaccord Genuity Group began coverage on shares of Nuvalent in a research report on Wednesday, November 12th. They issued a “buy” rating and a $126.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.33.

Institutional Trading of Nuvalent

A number of hedge funds have recently modified their holdings of NUVL. RA Capital Management L.P. bought a new stake in shares of Nuvalent in the 3rd quarter valued at approximately $107,794,000. Wellington Management Group LLP increased its holdings 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 purchasing an additional 724,491 shares in the last quarter. Norges Bank bought a new stake in shares of Nuvalent during the second quarter worth $28,582,000. Braidwell LP lifted its stake in shares of Nuvalent by 39.8% during the second quarter. Braidwell LP now owns 1,175,876 shares of the company’s stock valued at $89,719,000 after acquiring an additional 334,931 shares during the period. Finally, Polar Capital Holdings Plc lifted its position in Nuvalent by 25.3% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,022,225 shares of the company’s stock valued at $88,402,000 after purchasing an additional 206,138 shares during the period. Institutional investors own 97.26% of the company’s stock.

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.