Nuvalent (NASDAQ:NUVL) Given New $140.00 Price Target at Cantor Fitzgerald

Nuvalent (NASDAQ:NUVL) had its price target lifted by Cantor Fitzgerald from $135.00 to $140.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Nuvalent from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Canaccord Genuity Group began coverage on Nuvalent in a report on Wednesday, November 12th. They issued a “buy” rating and a $126.00 price objective on the stock. Barclays set a $152.00 target price on Nuvalent in a report on Monday, November 17th. Leerink Partners lifted their price target on Nuvalent from $140.00 to $149.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Thursday, January 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.67.

Nuvalent Stock Down 1.9%

Shares of NUVL stock traded down $1.98 during trading hours on Friday, hitting $101.95. 668,676 shares of the company’s stock were exchanged, compared to its average volume of 469,051. Nuvalent has a fifty-two week low of $55.53 and a fifty-two week high of $113.01. The firm has a market cap of $7.41 billion, a P/E ratio of -17.43 and a beta of 1.32. The firm has a 50 day moving average of $103.49 and a two-hundred day moving average of $95.05.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, insider Christopher Durant Turner sold 3,181 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total transaction of $309,065.96. Following the completion of the sale, the insider owned 55,130 shares of the company’s stock, valued at $5,356,430.80. This trade represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Richard Porter sold 9,543 shares of Nuvalent stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the completion of the sale, the chief executive officer owned 278,629 shares in the company, valued at $27,071,593.64. This represents a 3.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 76,463 shares of company stock worth $7,722,489. Insiders own 10.20% of the company’s stock.

Institutional Trading of Nuvalent

Several institutional investors and hedge funds have recently bought and sold shares of NUVL. Vanguard Group Inc. boosted its stake in Nuvalent by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after buying an additional 639,264 shares during the period. Wellington Management Group LLP grew its stake in shares of Nuvalent by 7.0% during the fourth quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company’s stock worth $247,635,000 after purchasing an additional 160,958 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Nuvalent by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock valued at $221,826,000 after buying an additional 545,542 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Nuvalent by 18.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company’s stock worth $215,962,000 after buying an additional 336,518 shares during the last quarter. Finally, RA Capital Management L.P. lifted its holdings in Nuvalent by 50.8% during the 4th quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company’s stock worth $189,115,000 after buying an additional 633,601 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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.