Nuvalent (NASDAQ:NUVL) Announces Earnings Results, Misses Expectations By $0.35 EPS

Nuvalent (NASDAQ:NUVL) issued its quarterly earnings data on Tuesday. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35), Briefing.com reports. During the same period last year, the business posted ($0.59) EPS.

Nuvalent Price Performance

NUVL stock opened at $90.99 on Wednesday. Nuvalent has a one year low of $55.33 and a one year high of $113.51. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -32.73 and a beta of 1.33. The company has a fifty day moving average price of $97.05 and a two-hundred day moving average price of $82.84.

Insider Activity

In related news, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $102.28, for a total transaction of $2,761,560.00. Following the completion of the sale, the chief executive officer now owns 188,113 shares of the company’s stock, valued at approximately $19,240,197.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Nuvalent news, Director Matthew Shair sold 2,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $84.46, for a total value of $168,920.00. Following the transaction, the director now directly owns 228,522 shares of the company’s stock, valued at $19,300,968.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,122,629 shares of company stock valued at $207,180,508 over the last ninety days. 12.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on NUVL shares. JPMorgan Chase & Co. boosted their target price on Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets raised their price objective on Nuvalent from $132.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a report on Tuesday. Finally, Stifel Nicolaus raised their price target on Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nuvalent currently has a consensus rating of “Moderate Buy” and an average target price of $112.60.

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.