Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) Director James E. Flynn sold 2,000,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $97.75, for a total value of $195,500,000.00. Following the completion of the sale, the director now owns 8,670,512 shares of the company’s stock, valued at $847,542,548. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Nuvalent Price Performance
NUVL stock opened at $90.70 on Friday. The stock has a market capitalization of $5.88 billion, a PE ratio of -32.63 and a beta of 1.29. The company’s 50-day moving average is $94.90 and its 200-day moving average is $80.45. Nuvalent, Inc. has a 1 year low of $49.02 and a 1 year high of $113.51.
Nuvalent (NASDAQ:NUVL – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period in the prior year, the company earned ($0.51) EPS. On average, analysts anticipate that Nuvalent, Inc. will post -3.52 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Nuvalent
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. UBS Group assumed coverage on Nuvalent in a report on Thursday. They issued a “neutral” rating and a $100.00 price objective for the company. The Goldman Sachs Group upgraded Nuvalent to a “strong sell” rating in a report on Monday, September 16th. BMO Capital Markets upped their price target on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Stifel Nicolaus upped their price target on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Wedbush upped their price target on shares of Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. One 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 stock. According to data from MarketBeat.com, Nuvalent presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.40.
Check Out Our Latest Report on NUVL
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.
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