Nuvalent, Inc. (NASDAQ:NUVL) Receives $140.29 Consensus PT from Analysts

Nuvalent, Inc. (NASDAQ:NUVL) has been given an average rating of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $141.2353.

A number of equities analysts have issued reports on NUVL shares. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price on shares of Nuvalent in a report on Tuesday, April 21st. Leerink Partners set a $165.00 target price on Nuvalent in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Nuvalent in a report on Thursday, May 28th. Finally, Wells Fargo & Company started coverage on Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 target price for the company.

Insider Buying and Selling

In other Nuvalent news, CEO James Richard Porter sold 30,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00. Following the sale, the chief executive officer owned 324,879 shares in the company, valued at approximately $33,036,945.51. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alexandra Balcom sold 11,430 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $98.69, for a total value of $1,128,026.70. Following the completion of the sale, the chief financial officer owned 85,533 shares in the company, valued at $8,441,251.77. This trade represents a 11.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 96,953 shares of company stock worth $9,956,364. Corporate insiders own 5.02% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

A number of institutional investors have recently made changes to their positions in NUVL. AQR Capital Management LLC grew its position in shares of Nuvalent by 64.8% in the 1st quarter. AQR Capital Management LLC now owns 9,874 shares of the company’s stock valued at $700,000 after buying an additional 3,881 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Nuvalent by 54.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock valued at $32,171,000 after buying an additional 159,873 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Nuvalent by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,941 shares of the company’s stock valued at $10,634,000 after buying an additional 12,123 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Nuvalent by 28.7% in the 1st quarter. Intech Investment Management LLC now owns 19,262 shares of the company’s stock valued at $1,366,000 after buying an additional 4,293 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Nuvalent in the 2nd quarter valued at about $412,000. Institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Down 3.3%

Shares of NUVL opened at $90.95 on Friday. Nuvalent has a 12-month low of $71.13 and a 12-month high of $113.01. The business has a 50-day simple moving average of $102.57 and a two-hundred day simple moving average of $103.11. The stock has a market cap of $7.19 billion, a PE ratio of -15.01 and a beta of 1.15.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same period last year, the business earned ($1.18) earnings per share. On average, equities research analysts expect that Nuvalent 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.