Nuvalent, Inc. (NASDAQ:NUVL) Director James E. Flynn Sells 2,000,000 Shares

Nuvalent, Inc. (NASDAQ:NUVL) 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) 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new position in shares of Nuvalent during the 2nd quarter worth about $1,191,000. Seven Eight Capital LP bought a new position in Nuvalent in the 1st quarter valued at about $1,172,000. Vanguard Group Inc. lifted its position in Nuvalent by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,412,072 shares of the company’s stock valued at $256,212,000 after acquiring an additional 72,222 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Nuvalent by 80.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock valued at $26,409,000 after acquiring an additional 155,276 shares in the last quarter. Finally, Samlyn Capital LLC bought a new position in Nuvalent in the 2nd quarter valued at about $17,397,000. Institutional investors own 97.26% of the company’s stock.

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.

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.