Nuvalent, Inc. (NASDAQ:NUVL) Receives $138.33 Average Price Target from Analysts

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $138.3333.

A number of research firms have recently weighed in on NUVL. Robert W. Baird lifted their price target on shares of Nuvalent from $112.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Stifel Nicolaus raised their price objective on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Cantor Fitzgerald began coverage on Nuvalent in a report on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price objective for the company. Leerink Partners increased their target price on Nuvalent from $140.00 to $149.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. decreased their price target on Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th.

Nuvalent Stock Performance

Shares of Nuvalent stock opened at $100.27 on Monday. The firm has a 50-day moving average of $104.99 and a 200-day moving average of $91.63. Nuvalent has a 52-week low of $55.53 and a 52-week high of $113.01. The stock has a market cap of $7.29 billion, a PE ratio of -18.85 and a beta of 1.32.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period last year, the business posted ($1.28) EPS. Equities research analysts predict that Nuvalent will post -3.86 earnings per share for the current fiscal year.

Insider Transactions at Nuvalent

In other news, insider Deborah Ann Miller sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $105.50, for a total value of $2,553,100.00. Following the completion of the transaction, the insider directly owned 49,086 shares in the company, valued at approximately $5,178,573. The trade was a 33.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Shair sold 5,850 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $109.37, for a total transaction of $639,814.50. Following the sale, the director owned 1,377,194 shares in the company, valued at $150,623,707.78. This represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 871,466 shares of company stock worth $84,032,132. Corporate insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Nuvalent

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Nuvalent by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,605,007 shares of the company’s stock worth $398,241,000 after buying an additional 80,883 shares in the last quarter. Wellington Management Group LLP grew its position in Nuvalent by 46.0% in the third quarter. Wellington Management Group LLP now owns 2,300,865 shares of the company’s stock valued at $198,979,000 after acquiring an additional 724,491 shares during the last quarter. State Street Corp raised its stake in Nuvalent by 4.2% during the second quarter. State Street Corp now owns 1,490,279 shares of the company’s stock worth $113,708,000 after acquiring an additional 59,620 shares in the last quarter. Commodore Capital LP lifted its holdings in shares of Nuvalent by 1.8% in the third quarter. Commodore Capital LP now owns 1,400,000 shares of the company’s stock worth $121,072,000 after acquiring an additional 25,000 shares during the last quarter. Finally, RA Capital Management L.P. acquired a new stake in shares of Nuvalent in the 3rd quarter valued at approximately $107,794,000. Institutional investors own 97.26% of the company’s stock.

Nuvalent Company Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.