FNY Investment Advisers LLC Purchases New Stake in Nuvalent, Inc. $NUVL

FNY Investment Advisers LLC purchased a new stake in Nuvalent, Inc. (NASDAQ:NUVL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 108,951 shares of the company’s stock, valued at approximately $13,455,000. Nuvalent accounts for about 4.9% of FNY Investment Advisers LLC’s investment portfolio, making the stock its biggest holding. FNY Investment Advisers LLC owned about 0.14% of Nuvalent at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhenman & Partners Asset Management AB increased its position in shares of Nuvalent by 211.1% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 163,350 shares of the company’s stock worth $16,431,000 after acquiring an additional 110,850 shares in the last quarter. Nicholas Investment Partners LP raised its holdings in shares of Nuvalent by 29.2% in the 4th quarter. Nicholas Investment Partners LP now owns 160,483 shares of the company’s stock worth $16,143,000 after acquiring an additional 36,305 shares during the last quarter. Walleye Capital LLC raised its holdings in shares of Nuvalent by 426.3% in the 1st quarter. Walleye Capital LLC now owns 41,873 shares of the company’s stock worth $4,290,000 after acquiring an additional 33,917 shares during the last quarter. Candriam S.C.A. lifted its position in Nuvalent by 9.3% in the 1st quarter. Candriam S.C.A. now owns 391,306 shares of the company’s stock valued at $40,089,000 after acquiring an additional 33,293 shares in the last quarter. Finally, Comerica Bank lifted its position in Nuvalent by 25,180.0% in the 4th quarter. Comerica Bank now owns 20,224 shares of the company’s stock valued at $2,034,000 after acquiring an additional 20,144 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Performance

Shares of NUVL stock opened at $123.96 on Friday. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.99. The company has a 50-day simple moving average of $119.57 and a two-hundred day simple moving average of $108.70. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the previous year, the firm posted ($1.18) EPS. On average, sell-side analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NUVL. Wall Street Zen raised Nuvalent to a “sell” rating in a report on Saturday, July 18th. TD Cowen lowered Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 target price on the stock. in a report on Tuesday, June 9th. HC Wainwright cut Nuvalent from a “buy” rating to a “neutral” rating and set a $124.00 target price on the stock. in a research report on Tuesday, June 9th. Raymond James Financial downgraded Nuvalent from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Finally, Lifesci Capital lowered Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price target for the company. in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.73.

Insiders Place Their Bets

In related news, CFO Alexandra Balcom sold 11,430 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the sale, the chief financial officer directly owned 85,533 shares of the company’s stock, valued at approximately $10,570,168.14. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total value of $593,120.00. Following the sale, the insider directly owned 59,634 shares of the company’s stock, valued at $6,430,930.56. The trade was a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 90,471 shares of company stock valued at $9,762,529. Insiders own 5.02% of the company’s stock.

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.