Nuvalent, Inc. (NASDAQ:NUVL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have been assigned a consensus rating of “Hold” from the twenty brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $127.7289.

NUVL has been the topic of several research reports. Sanford C. Bernstein lowered Nuvalent from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $172.00 to $124.00 in a research report on Wednesday, June 24th. Truist Financial lowered Nuvalent from a “buy” rating to a “hold” rating and lowered their price objective for the company from $140.00 to $124.00 in a research report on Tuesday, June 9th. Wells Fargo & Company restated an “equal weight” rating and set a $124.00 target price (up from $116.00) on shares of Nuvalent in a report on Tuesday, June 9th. Barclays reaffirmed an “equal weight” rating and issued a $124.00 target price (down from $152.00) on shares of Nuvalent in a research report on Tuesday, June 9th. Finally, TD Cowen lowered shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a research note on Tuesday, June 9th.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, CEO James Richard Porter sold 30,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $123.72, for a total value of $3,711,600.00. Following the sale, the chief executive officer owned 324,879 shares in the company, valued at approximately $40,194,029.88. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the transaction, the insider directly owned 59,634 shares of the company’s stock, valued at $6,430,930.56. This represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,971 shares of company stock worth $13,358,939 in the last ninety days. 5.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its holdings in Nuvalent by 38.8% in the second quarter. Handelsbanken Fonder AB now owns 19,300 shares of the company’s stock worth $2,384,000 after acquiring an additional 5,400 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Nuvalent during the second quarter valued at $13,455,000. GAMMA Investing LLC increased its holdings in shares of Nuvalent by 36.9% during the second quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $65,000 after acquiring an additional 141 shares in the last quarter. Bank of America Corp DE raised its position in shares of Nuvalent by 20.0% in the 1st quarter. Bank of America Corp DE now owns 216,516 shares of the company’s stock worth $22,182,000 after purchasing an additional 36,147 shares during the last quarter. Finally, Tri Locum Partners LP raised its position in shares of Nuvalent by 0.4% in the 1st quarter. Tri Locum Partners LP now owns 308,506 shares of the company’s stock worth $31,606,000 after purchasing an additional 1,135 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Performance

Shares of Nuvalent stock opened at $123.96 on Monday. The company has a fifty day simple moving average of $115.86 and a 200-day simple moving average of $107.40. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. Nuvalent has a 12-month low of $71.13 and a 12-month high of $123.99.

Nuvalent (NASDAQ:NUVL) last posted its 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 period in the previous year, the firm posted ($1.18) earnings per share. On average, analysts forecast that Nuvalent will post -5.74 earnings per share for the current fiscal year.

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.