Nuvalent (NASDAQ:NUVL) CFO Alexandra Balcom Sells 11,430 Shares

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $105.21, for a total value of $1,202,550.30. Following the completion of the sale, the chief financial officer owned 85,533 shares in the company, valued at approximately $8,998,926.93. This represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alexandra Balcom also recently made the following trade(s):

• On Tuesday, January 6th, Alexandra Balcom sold 3,181 shares of Nuvalent stock. The stock was sold at an average price of $97.16, for a total value of $309,065.96.
• On Monday, January 5th, Alexandra Balcom sold 4,236 shares of Nuvalent stock. The shares were sold at an average price of $97.32, for a total transaction of $412,247.52.

Nuvalent Price Performance

Shares of NUVL opened at $105.43 on Friday. Nuvalent, Inc. has a 52-week low of $55.53 and a 52-week high of $113.01. The firm has a market capitalization of $8.29 billion, a PE ratio of -18.02 and a beta of 1.31. The firm has a 50-day moving average price of $101.43 and a 200 day moving average price of $98.96.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. acquired a new stake in shares of Nuvalent during the 3rd quarter valued at $107,794,000. Wellington Management Group LLP raised its position in shares of Nuvalent by 46.0% during the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock worth $198,979,000 after purchasing an additional 724,491 shares during the period. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 639,264 shares during the period. Norges Bank purchased a new stake in shares of Nuvalent during the fourth quarter valued at $57,763,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Nuvalent by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock valued at $221,826,000 after purchasing an additional 545,542 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NUVL shares. Cantor Fitzgerald upped their target price on Nuvalent from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. UBS Group reissued a “buy” rating on shares of Nuvalent in a research note on Wednesday, December 17th. JPMorgan Chase & Co. decreased their target price on Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Wells Fargo & Company initiated coverage on Nuvalent in a report on Monday, March 30th. They set an “overweight” rating and a $116.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Thursday, January 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.25.

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.