The Manufacturers Life Insurance Company Has $7.30 Million Stock Position in Nuvalent, Inc. $NUVL

The Manufacturers Life Insurance Company cut its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 8.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,295 shares of the company’s stock after selling 6,980 shares during the period. The Manufacturers Life Insurance Company’s holdings in Nuvalent were worth $7,304,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Kennedy Capital Management LLC raised its position in shares of Nuvalent by 1.5% in the fourth quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock valued at $1,100,000 after buying an additional 163 shares in the last quarter. US Bancorp DE grew its holdings in shares of Nuvalent by 10.0% during the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after purchasing an additional 188 shares in the last quarter. AlphaCentric Advisors LLC increased its position in shares of Nuvalent by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock worth $477,000 after purchasing an additional 253 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Nuvalent by 10.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,736 shares of the company’s stock worth $289,000 after purchasing an additional 266 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Nuvalent by 2.7% in the second quarter. Guggenheim Capital LLC now owns 10,863 shares of the company’s stock valued at $829,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Activity at Nuvalent

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the firm’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 sale, the chief financial officer 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Deborah Ann Miller sold 5,500 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $107.84, for a total transaction of $593,120.00. Following the sale, the insider directly owned 59,634 shares in the company, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 90,471 shares of company stock worth $9,762,529 in the last 90 days. 5.02% of the stock is currently owned by company insiders.

Nuvalent Stock Performance

Shares of NASDAQ NUVL opened at $123.96 on Thursday. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a 12 month low of $71.13 and a 12 month high of $123.99. The stock has a 50-day moving average price of $119.28 and a two-hundred day moving average price of $108.56.

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 analysts’ consensus estimates of ($1.35) by ($0.04). During the same quarter in the prior year, the business posted ($1.18) EPS. On average, sell-side analysts predict that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Analysts Set New Price Targets

NUVL has been the topic of a number of analyst reports. Leerink Partners set a $165.00 price objective on shares of Nuvalent in a research note on Wednesday, June 3rd. Cantor Fitzgerald lowered shares of Nuvalent from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Truist Financial cut 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 note on Tuesday, June 9th. Canaccord Genuity Group cut shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Robert W. Baird set a $122.85 price objective on shares of Nuvalent in a research report on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nuvalent currently has an average rating of “Hold” and a consensus target price of $127.73.

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.