Nuvalent (NASDAQ:NUVL) CFO Alexandra Balcom Sells 11,430 Shares

Nuvalent, Inc. (NASDAQ:NUVL) CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $98.69, for a total value of $1,128,026.70. Following the transaction, the chief financial officer owned 85,533 shares of the company’s stock, valued at approximately $8,441,251.77. The trade was a 11.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alexandra Balcom also recently made the following trade(s):

• On Wednesday, April 1st, Alexandra Balcom sold 11,430 shares of Nuvalent stock. The shares were sold at an average price of $105.21, for a total value of $1,202,550.30.

Nuvalent Stock Down 1.3%

Shares of Nuvalent stock opened at $90.18 on Thursday. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of -14.88 and a beta of 1.15. The business has a 50-day moving average price of $102.75 and a 200-day moving average price of $103.22. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $113.01.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period in the prior year, the company earned ($1.18) earnings per share. On average, equities analysts expect that Nuvalent, Inc. will post -5.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Candriam S.C.A. boosted its position in shares of Nuvalent by 9.4% during the third quarter. Candriam S.C.A. now owns 329,721 shares of the company’s stock valued at $28,514,000 after buying an additional 28,462 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Nuvalent during the third quarter valued at approximately $1,297,000. HighVista Strategies LLC boosted its position in shares of Nuvalent by 84.9% during the third quarter. HighVista Strategies LLC now owns 93,294 shares of the company’s stock valued at $8,068,000 after buying an additional 42,834 shares during the period. Aberdeen Group plc boosted its position in shares of Nuvalent by 115.4% during the fourth quarter. Aberdeen Group plc now owns 165,177 shares of the company’s stock valued at $16,615,000 after buying an additional 88,489 shares during the period. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Nuvalent during the third quarter valued at approximately $1,946,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

NUVL has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on Nuvalent in a research note on Thursday, May 21st. They set an “outperform” rating and a $189.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a research note on Tuesday, April 21st. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Nuvalent in a research note on Thursday, May 28th. Leerink Partners set a $165.00 price objective on Nuvalent in a research note on Wednesday. Finally, Wells Fargo & Company initiated coverage on Nuvalent in a research note on Monday, March 30th. They set an “overweight” rating and a $116.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nuvalent currently has a consensus rating of “Moderate Buy” and an average price target of $141.24.

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.