Nuvalent (NASDAQ:NUVL) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Nuvalent (NASDAQ:NUVL) to a sell rating in a report issued on Saturday morning.

A number of other brokerages have also commented on NUVL. Raymond James Financial lowered Nuvalent from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Cantor Fitzgerald downgraded shares of Nuvalent from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. Piper Sandler lowered shares of Nuvalent from an “overweight” rating to a “neutral” rating and set a $124.00 target price for the company. in a research report on Tuesday, June 9th. Truist Financial lowered shares of Nuvalent from a “buy” rating to a “hold” rating and decreased their target price for the company from $140.00 to $124.00 in a research report on Tuesday, June 9th. Finally, TD Cowen cut shares of Nuvalent from a “buy” rating to a “hold” rating and set a $124.00 target price on the stock. in a research note on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nuvalent presently has a consensus rating of “Hold” and a consensus target price of $127.73.

Nuvalent Price Performance

Shares of NUVL stock opened at $123.96 on Friday. Nuvalent has a 12-month low of $71.13 and a 12-month high of $123.99. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of -20.46 and a beta of 1.14. The business has a 50 day simple moving average of $113.85 and a 200 day simple moving average of $106.52.

Nuvalent (NASDAQ:NUVL) last posted its 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 previous year, the business posted ($1.18) earnings per share. On average, equities analysts anticipate that Nuvalent will post -5.74 EPS for the current fiscal year.

Insider Buying and Selling at Nuvalent

In related news, CEO James Richard Porter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $123.72, for a total transaction of $3,711,600.00. Following the completion of the sale, the chief executive officer directly owned 324,879 shares in the company, valued at approximately $40,194,029.88. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $107.84, for a total transaction of $593,120.00. Following the completion of the transaction, the insider owned 59,634 shares in the company, valued at approximately $6,430,930.56. This trade represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,971 shares of company stock valued at $13,358,939 over the last quarter. Company insiders own 5.02% of the company’s stock.

Institutional Investors Weigh In On Nuvalent

Large investors have recently modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in shares of Nuvalent by 38.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 19,300 shares of the company’s stock worth $2,384,000 after acquiring an additional 5,400 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Nuvalent during the second quarter worth $13,455,000. GAMMA Investing LLC lifted its holdings in shares of Nuvalent by 36.9% during the second quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $65,000 after purchasing an additional 141 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Nuvalent by 20.0% during the first quarter. Bank of America Corp DE now owns 216,516 shares of the company’s stock valued at $22,182,000 after purchasing an additional 36,147 shares during the last quarter. Finally, Tri Locum Partners LP boosted its position in shares of Nuvalent by 0.4% in the 1st quarter. Tri Locum Partners LP now owns 308,506 shares of the company’s stock valued at $31,606,000 after purchasing an additional 1,135 shares during the period. 97.26% of the stock is owned by institutional investors.

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.