NEOS Investment Management LLC Has $909,000 Stock Position in Nuvalent, Inc. (NASDAQ:NUVL)

NEOS Investment Management LLC raised its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,617 shares of the company’s stock after buying an additional 1,140 shares during the period. NEOS Investment Management LLC’s holdings in Nuvalent were worth $909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NUVL. Crowley Wealth Management Inc. bought a new stake in Nuvalent during the 4th quarter worth $27,000. US Bancorp DE acquired a new position in shares of Nuvalent in the fourth quarter valued at approximately $90,000. KBC Group NV boosted its position in Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company’s stock worth $124,000 after buying an additional 602 shares during the period. Commonwealth Equity Services LLC grew its holdings in Nuvalent by 13.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock worth $205,000 after acquiring an additional 309 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Nuvalent in the 4th quarter valued at approximately $257,000. Institutional investors own 97.26% of the company’s stock.

Nuvalent Stock Down 0.8 %

Shares of NUVL stock opened at $73.05 on Monday. The firm has a 50 day moving average of $78.54 and a 200-day moving average of $87.28. The company has a market cap of $5.23 billion, a price-to-earnings ratio of -21.05 and a beta of 1.42. Nuvalent, Inc. has a 52 week low of $61.80 and a 52 week high of $113.51.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). Analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Insider Activity at Nuvalent

In other Nuvalent news, insider Henry E. Pelish sold 2,483 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $79.68, for a total value of $197,845.44. Following the completion of the sale, the insider now owns 59,981 shares of the company’s stock, valued at approximately $4,779,286.08. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Shair sold 2,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $82.79, for a total value of $165,580.00. Following the completion of the transaction, the director now owns 218,522 shares in the company, valued at approximately $18,091,436.38. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,800 shares of company stock valued at $8,437,464 in the last three months. Corporate insiders own 12.52% of the company’s stock.

Wall Street Analyst Weigh In

NUVL has been the topic of several analyst reports. UBS Group raised shares of Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, March 14th. Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of Nuvalent in a research report on Monday, January 13th. Finally, HC Wainwright restated a “buy” rating and set a $110.00 price objective on shares of Nuvalent in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.10.

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.