Nuvalent, Inc. (NASDAQ:NUVL) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $112.40.

Several analysts recently commented on the stock. The Goldman Sachs Group raised shares of Nuvalent to a “strong sell” rating in a research report on Monday, September 16th. Barclays assumed coverage on shares of Nuvalent in a research report on Thursday, August 29th. They set an “overweight” rating and a $100.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. UBS Group assumed coverage on shares of Nuvalent in a research report on Thursday, October 24th. They set a “neutral” rating and a $100.00 price objective on the stock. Finally, Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th.

Insider Transactions at Nuvalent

In other news, CEO James Richard Porter sold 27,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $102.28, for a total value of $2,761,560.00. Following the transaction, the chief executive officer now owns 188,113 shares in the company, valued at $19,240,197.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nuvalent news, Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $84.46, for a total transaction of $168,920.00. Following the sale, the director now owns 228,522 shares in the company, valued at approximately $19,300,968.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Richard Porter sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $102.28, for a total transaction of $2,761,560.00. Following the sale, the chief executive officer now owns 188,113 shares in the company, valued at approximately $19,240,197.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,115,629 shares of company stock worth $206,494,948 in the last quarter. Company insiders own 12.52% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NUVL. Quest Partners LLC bought a new stake in Nuvalent during the 2nd quarter worth approximately $44,000. Amalgamated Bank raised its stake in Nuvalent by 21.8% during the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock worth $84,000 after acquiring an additional 198 shares during the period. SG Americas Securities LLC bought a new stake in Nuvalent during the 1st quarter worth approximately $121,000. Allspring Global Investments Holdings LLC raised its stake in Nuvalent by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock worth $168,000 after acquiring an additional 189 shares during the period. Finally, Mount Yale Investment Advisors LLC bought a new stake in Nuvalent during the 1st quarter worth approximately $202,000. Institutional investors own 97.26% of the company’s stock.

Nuvalent Price Performance

NASDAQ:NUVL opened at $89.22 on Friday. The firm’s 50-day moving average price is $95.89 and its 200-day moving average price is $81.25. The company has a market capitalization of $5.78 billion, a PE ratio of -32.09 and a beta of 1.29. Nuvalent has a 1-year low of $54.37 and a 1-year high of $113.51.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period in the previous year, the firm earned ($0.51) EPS. Equities analysts anticipate that Nuvalent will post -3.52 EPS for the current fiscal year.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.