6,948 Shares in Nuvalent, Inc. $NUVL Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in Nuvalent, Inc. (NASDAQ:NUVL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,948 shares of the company’s stock, valued at approximately $709,000.

Several other large investors have also recently bought and sold shares of NUVL. GAMMA Investing LLC boosted its holdings in shares of Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the period. NBC Securities Inc. bought a new position in shares of Nuvalent during the fourth quarter worth approximately $125,000. KBC Group NV increased its stake in shares of Nuvalent by 24.1% during the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock worth $154,000 after purchasing an additional 297 shares during the period. Portland Investment Counsel Inc. acquired a new stake in Nuvalent during the 4th quarter worth approximately $201,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in Nuvalent during the 4th quarter worth approximately $202,000. 97.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on NUVL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Robert W. Baird set a $122.85 target price on Nuvalent in a report on Tuesday, June 9th. Truist Financial cut shares of Nuvalent from a “buy” rating to a “hold” rating and reduced their target price for the company from $140.00 to $124.00 in a research report on Tuesday, June 9th. Barclays restated an “equal weight” rating and issued a $124.00 price target (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Finally, Wedbush cut shares of Nuvalent from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $124.00 in a research note on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nuvalent has a consensus rating of “Hold” and a consensus target price of $127.73.

Insider Activity

In other news, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $123.58, for a total value of $1,412,519.40. Following the completion of the transaction, the chief financial officer directly owned 85,533 shares in the company, valued at approximately $10,570,168.14. The trade was a 11.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Henry E. Pelish sold 2,111 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $123.81, for a total transaction of $261,362.91. Following the sale, the insider owned 63,493 shares in the company, valued at $7,861,068.33. This represents a 3.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 125,971 shares of company stock worth $13,358,939. 5.02% of the stock is owned by company insiders.

Nuvalent Price Performance

Shares of NASDAQ NUVL opened at $123.96 on Thursday. The business has a fifty day moving average price of $113.04 and a two-hundred day moving average price of $106.26. The stock has a market capitalization of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a fifty-two week low of $71.13 and a fifty-two week high of $123.99.

Nuvalent (NASDAQ:NUVL) last released its earnings results 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 period in the prior year, the business earned ($1.18) earnings per share. On average, equities analysts expect that Nuvalent, Inc. will post -5.74 EPS for the current year.

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.