Nuvalent (NASDAQ:NUVL) Shares Down 9.5% on Insider Selling

Nuvalent, Inc. (NASDAQ:NUVL) was down 9.5% on Monday following insider selling activity. The stock traded as low as $99.86 and last traded at $99.9550. Approximately 363,632 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 561,873 shares. The stock had previously closed at $110.39.

Specifically, insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $107.84, for a total value of $593,120.00. Following the completion of the transaction, the insider owned 59,634 shares in the company, valued at $6,430,930.56. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NUVL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Nuvalent in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $155.00 price target on shares of Nuvalent in a research report on Tuesday, April 21st. Wells Fargo & Company started coverage on Nuvalent in a research report on Monday, March 30th. They set an “overweight” rating and a $116.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $125.00 price target on shares of Nuvalent in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.29.

Nuvalent Stock Down 1.8%

The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -15.07 and a beta of 1.15. The firm has a 50-day moving average of $102.94 and a two-hundred day moving average of $103.29.

Nuvalent (NASDAQ:NUVL) last posted its quarterly 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 business earned ($1.18) earnings per share. As a group, sell-side analysts predict that Nuvalent, Inc. will post -5.74 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Candriam S.C.A. grew its stake in Nuvalent by 9.4% in the third quarter. Candriam S.C.A. now owns 329,721 shares of the company’s stock valued at $28,514,000 after purchasing an additional 28,462 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Nuvalent in the third quarter valued at about $1,297,000. HighVista Strategies LLC grew its stake in Nuvalent by 84.9% in the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company’s stock valued at $8,068,000 after purchasing an additional 42,834 shares in the last quarter. Aberdeen Group plc grew its stake in Nuvalent by 115.4% in the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company’s stock valued at $16,615,000 after purchasing an additional 88,489 shares in the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new position in Nuvalent in the third quarter valued at about $1,946,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.