Perceptive Advisors LLC Trims Stake in Nuvalent, Inc. $NUVL

Perceptive Advisors LLC lessened its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,580,505 shares of the company’s stock after selling 84,600 shares during the quarter. Nuvalent makes up about 3.2% of Perceptive Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Perceptive Advisors LLC owned about 2.00% of Nuvalent worth $161,923,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC lifted its position in shares of Nuvalent by 1.5% in the 4th quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock worth $1,100,000 after buying an additional 163 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after buying an additional 188 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Nuvalent by 141.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after buying an additional 195 shares during the last quarter. AlphaCentric Advisors LLC grew its position in shares of Nuvalent by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock valued at $477,000 after buying an additional 253 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Nuvalent by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,736 shares of the company’s stock worth $289,000 after acquiring an additional 266 shares during the period. Institutional investors own 97.26% of the company’s stock.

Insiders Place Their Bets

In other Nuvalent news, insider Henry E. Pelish sold 2,111 shares of Nuvalent stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $123.81, for a total transaction of $261,362.91. Following the sale, the insider owned 63,493 shares of the company’s stock, valued at $7,861,068.33. The trade was a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO James Richard Porter sold 30,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00. Following the transaction, the chief executive officer owned 324,879 shares of the company’s stock, valued at $33,036,945.51. This trade represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 120,471 shares of company stock valued at $12,813,229. 5.02% of the stock is owned by corporate insiders.

Nuvalent Price Performance

Nuvalent stock opened at $123.96 on Friday. The firm has a 50-day moving average price of $118.13 and a two-hundred day moving average price of $108.10. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. Nuvalent, Inc. has a 52-week low of $71.13 and a 52-week high of $123.99.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter in the prior year, the business posted ($1.18) EPS. Research analysts expect that Nuvalent, Inc. will post -5.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NUVL shares. Guggenheim cut shares of Nuvalent from a “buy” rating to a “neutral” rating and cut their target price for the stock from $151.00 to $124.00 in a report on Wednesday, June 10th. TD Cowen cut Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 price target on the stock. in a research report on Tuesday, June 9th. Wall Street Zen raised Nuvalent to a “sell” rating in a report on Saturday, July 18th. Lifesci Capital lowered Nuvalent from an “outperform” rating to a “hold” rating and set a $124.00 price objective for the company. in a research report on Tuesday, June 9th. Finally, Barclays restated an “equal weight” rating and set a $124.00 price objective (down from $152.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $127.73.

About Nuvalent

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.