Insider Selling: Nuvalent (NASDAQ:NUVL) CEO Sells $3,711,600.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction on Monday, July 6th. The stock was sold at an average price of $123.72, for a total transaction of $3,711,600.00. Following the sale, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at $40,194,029.88. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

James Richard Porter also recently made the following trade(s):

• On Monday, June 8th, James Richard Porter sold 30,000 shares of Nuvalent stock. The shares were sold at an average price of $88.53, for a total value of $2,655,900.00.
• On Monday, May 4th, James Richard Porter sold 30,000 shares of Nuvalent stock. The stock was sold at an average price of $101.69, for a total value of $3,050,700.00.

Nuvalent Stock Up 0.0%

Shares of Nuvalent stock traded up $0.01 during trading on Wednesday, reaching $123.78. 1,156,097 shares of the company were exchanged, compared to its average volume of 1,351,600. The business has a 50-day moving average price of $110.40 and a 200-day moving average price of $105.44. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of -20.43 and a beta of 1.14. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $123.85.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same period in the previous year, the company posted ($1.18) earnings per share. On average, equities research analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler downgraded shares of Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 target price for the company. in a research note on Tuesday, June 9th. Leerink Partners set a $165.00 price target on shares of Nuvalent in a research report on Wednesday, June 3rd. Sanford C. Bernstein lowered shares of Nuvalent from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $172.00 to $124.00 in a report on Wednesday, June 24th. Robert W. Baird set a $122.85 price objective on Nuvalent in a research note on Tuesday, June 9th. Finally, Cantor Fitzgerald lowered Nuvalent from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $127.73.

Institutional Investors Weigh In On Nuvalent

A number of hedge funds and other institutional investors have recently made changes to their positions in NUVL. Vanguard Group Inc. boosted its stake in Nuvalent by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 5,244,271 shares of the company’s stock worth $527,521,000 after purchasing an additional 639,264 shares during the period. Wellington Management Group LLP raised its stake in shares of Nuvalent by 7.0% in the 4th quarter. Wellington Management Group LLP now owns 2,461,823 shares of the company’s stock valued at $247,635,000 after purchasing an additional 160,958 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Nuvalent by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,205,251 shares of the company’s stock valued at $221,826,000 after purchasing an additional 545,542 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nuvalent by 18.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,146,938 shares of the company’s stock valued at $215,962,000 after purchasing an additional 336,518 shares in the last quarter. Finally, RA Capital Management L.P. boosted its position in shares of Nuvalent by 50.8% during the fourth quarter. RA Capital Management L.P. now owns 1,880,057 shares of the company’s stock worth $189,115,000 after buying an additional 633,601 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.