Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom Sells 10,000 Shares

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $89.19, for a total transaction of $891,900.00. Following the completion of the transaction, the chief financial officer now owns 33,300 shares of the company’s stock, valued at $2,970,027. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Alexandra Balcom also recently made the following trade(s):

• On Monday, September 30th, Alexandra Balcom sold 10,000 shares of Nuvalent stock. The shares were sold at an average price of $101.06, for a total transaction of $1,010,600.00.
• On Friday, August 30th, Alexandra Balcom sold 10,000 shares of Nuvalent stock. The shares were sold at an average price of $84.23, for a total transaction of $842,300.00.

Nuvalent Stock Performance

Shares of NASDAQ:NUVL traded up $0.31 during trading on Monday, reaching $89.53. The stock had a trading volume of 486,592 shares, compared to its average volume of 441,376. The firm’s fifty day moving average is $96.00 and its 200 day moving average is $81.67. Nuvalent, Inc. has a 52 week low of $55.25 and a 52 week high of $113.51. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -32.21 and a beta of 1.33.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same quarter in the prior year, the company earned ($0.51) EPS. On average, research analysts forecast that Nuvalent, Inc. will post -3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvalent

A number of institutional investors have recently modified their holdings of NUVL. Allspring Global Investments Holdings LLC boosted its stake in shares of Nuvalent by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock valued at $168,000 after purchasing an additional 189 shares during the last quarter. Capstone Investment Advisors LLC lifted its position in shares of Nuvalent by 20.9% during the 1st quarter. Capstone Investment Advisors LLC now owns 9,760 shares of the company’s stock valued at $733,000 after acquiring an additional 1,685 shares during the period. SG Americas Securities LLC acquired a new position in shares of Nuvalent during the 1st quarter valued at $121,000. Swiss National Bank lifted its position in shares of Nuvalent by 0.8% during the 1st quarter. Swiss National Bank now owns 50,900 shares of the company’s stock valued at $3,822,000 after acquiring an additional 400 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Nuvalent by 5.7% during the 1st quarter. Sei Investments Co. now owns 31,062 shares of the company’s stock valued at $2,337,000 after acquiring an additional 1,681 shares during the period. 97.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NUVL shares. The Goldman Sachs Group raised shares of Nuvalent to a “strong sell” rating in a report on Monday, September 16th. UBS Group started coverage on shares of Nuvalent in a report on Thursday, October 24th. They set a “neutral” rating and a $100.00 price target on the stock. Guggenheim lifted their price target on shares of Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on shares of Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.40.

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.