Darlene Noci Sells 5,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Darlene Noci sold 5,000 shares of Nuvalent stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $77.22, for a total transaction of $386,100.00. Following the completion of the sale, the insider now owns 33,300 shares in the company, valued at approximately $2,571,426. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Darlene Noci also recently made the following trade(s):

• On Monday, July 1st, Darlene Noci sold 5,000 shares of Nuvalent stock. The stock was sold at an average price of $75.54, for a total transaction of $377,700.00.

Nuvalent Price Performance

Shares of NASDAQ:NUVL opened at $73.16 on Monday. The business has a fifty day moving average price of $76.51 and a 200-day moving average price of $75.85. The company has a market capitalization of $4.72 billion, a PE ratio of -30.36 and a beta of 1.28. Nuvalent, Inc. has a 1-year low of $39.86 and a 1-year high of $89.39.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.02). On average, sell-side analysts anticipate that Nuvalent, Inc. will post -3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvalent

Institutional investors and hedge funds have recently made changes to their positions in the company. Darwin Global Management Ltd. boosted its stake in Nuvalent by 2,390.5% during the 1st quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock valued at $107,902,000 after purchasing an additional 1,379,266 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Nuvalent by 56.5% during the fourth quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock valued at $245,780,000 after buying an additional 1,205,668 shares during the last quarter. Commodore Capital LP increased its holdings in Nuvalent by 60.6% in the 4th quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after buying an additional 502,259 shares in the last quarter. Perceptive Advisors LLC raised its position in Nuvalent by 18.5% in the 4th quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock worth $214,735,000 after buying an additional 454,540 shares during the last quarter. Finally, First Turn Management LLC purchased a new stake in shares of Nuvalent during the 4th quarter valued at about $18,831,000. Institutional investors own 97.26% of the company’s stock.

Analyst Ratings Changes

NUVL has been the subject of a number of research reports. Jefferies Financial Group started coverage on shares of Nuvalent in a research note on Wednesday, April 17th. They issued a “buy” rating and a $97.00 price target for the company. Stifel Nicolaus raised their target price on Nuvalent from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Lifesci Capital raised Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Wedbush reissued an “outperform” rating and set a $99.00 price objective on shares of Nuvalent in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $96.33.

About Nuvalent

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.