Jump Financial LLC Grows Stock Position in Nuvalent, Inc. (NASDAQ:NUVL)

Jump Financial LLC lifted its position in Nuvalent, Inc. (NASDAQ:NUVL) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,948 shares of the company’s stock after acquiring an additional 5,163 shares during the period. Jump Financial LLC’s holdings in Nuvalent were worth $2,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Nuvalent by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 4,499,864 shares of the company’s stock worth $352,249,000 after purchasing an additional 366,239 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Nuvalent by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 1,284,575 shares of the company’s stock worth $100,557,000 after buying an additional 272,738 shares in the last quarter. Geode Capital Management LLC boosted its position in Nuvalent by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 871,488 shares of the company’s stock worth $68,236,000 after acquiring an additional 15,878 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Nuvalent by 3.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 641,781 shares of the company’s stock valued at $50,239,000 after acquiring an additional 20,648 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in Nuvalent by 15.6% in the 4th quarter. Candriam S.C.A. now owns 368,095 shares of the company’s stock valued at $28,814,000 after acquiring an additional 49,728 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $68.94, for a total value of $1,861,380.00. Following the completion of the transaction, the chief executive officer now owns 249,062 shares of the company’s stock, valued at $17,170,334.28. This trade represents a 9.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Shair sold 2,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $82.79, for a total value of $165,580.00. Following the sale, the director now directly owns 218,522 shares in the company, valued at $18,091,436.38. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,000 shares of company stock worth $6,350,730 over the last ninety days. Corporate insiders own 12.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NUVL. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Nuvalent in a research report on Monday, March 3rd. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of Nuvalent in a report on Monday, January 13th. Finally, UBS Group upgraded Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nuvalent presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Nuvalent Trading Up 2.4 %

Shares of NASDAQ:NUVL opened at $71.64 on Friday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -20.65 and a beta of 1.43. Nuvalent, Inc. has a 12-month low of $55.54 and a 12-month high of $113.51. The business has a 50-day moving average price of $73.00 and a 200 day moving average price of $83.82.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). As a group, equities research analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Nuvalent Company Profile

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.