Nuvalent (NUVL) Projected to Post Quarterly Earnings on Tuesday

Nuvalent (NASDAQ:NUVL) will likely be posting its quarterly earnings results on Tuesday, February 25th. Analysts expect Nuvalent to post earnings of ($1.03) per share for the quarter.

Nuvalent Stock Performance

NASDAQ NUVL opened at $77.93 on Tuesday. Nuvalent has a 52-week low of $61.79 and a 52-week high of $113.51. The business has a 50 day simple moving average of $82.09 and a 200 day simple moving average of $88.06. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of -22.46 and a beta of 1.38.

Analyst Ratings Changes

NUVL has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Nuvalent in a research note on Monday, January 13th. UBS Group initiated coverage on Nuvalent in a research report on Thursday, October 24th. They issued a “neutral” rating and a $100.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price target on shares of Nuvalent in a research report on Friday, January 17th. Finally, BMO Capital Markets lifted their price objective on shares of Nuvalent from $132.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Nuvalent presently has an average rating of “Moderate Buy” and an average target price of $112.36.

Insider Activity at Nuvalent

In other Nuvalent news, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction on Monday, November 25th. The shares were sold at an average price of $96.22, for a total transaction of $192,440.00. Following the completion of the transaction, the director now directly owns 222,522 shares of the company’s stock, valued at $21,411,066.84. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $86.61, for a total transaction of $2,338,470.00. Following the completion of the transaction, the chief executive officer now directly owns 188,113 shares in the company, valued at $16,292,466.93. The trade was a 12.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,800 shares of company stock worth $6,812,164. Insiders own 12.52% of the company’s stock.

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.