Profund Advisors LLC Increases Stock Position in Nuvalent, Inc. $NUVL

Profund Advisors LLC lifted its holdings in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 64.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,536 shares of the company’s stock after acquiring an additional 6,849 shares during the period. Profund Advisors LLC’s holdings in Nuvalent were worth $1,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC grew its position in Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Nuvalent in the 3rd quarter valued at $38,000. NBC Securities Inc. purchased a new position in Nuvalent in the 4th quarter valued at $125,000. KBC Group NV grew its position in Nuvalent by 24.1% in the 4th quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after buying an additional 297 shares during the last quarter. Finally, Compass Wealth Management LLC purchased a new position in Nuvalent in the 3rd quarter valued at $172,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Nuvalent Price Performance

Shares of NASDAQ NUVL opened at $102.32 on Thursday. The company has a market cap of $8.08 billion, a PE ratio of -16.88 and a beta of 1.15. Nuvalent, Inc. has a 12 month low of $70.25 and a 12 month high of $113.01. The company has a 50-day simple moving average of $102.16 and a 200-day simple moving average of $102.75.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same quarter last year, the firm earned ($1.18) EPS. On average, analysts anticipate that Nuvalent, Inc. will post -5.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Nuvalent in a report on Wednesday, April 8th. HC Wainwright reissued a “buy” rating and issued a $155.00 target price on shares of Nuvalent in a report on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvalent in a report on Tuesday, April 21st. Wells Fargo & Company assumed coverage on Nuvalent in a report on Monday, March 30th. They issued an “overweight” rating and a $116.00 target price for the company. Finally, Cantor Fitzgerald raised their target price on Nuvalent from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Sixteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.25.

Insiders Place Their Bets

In other Nuvalent news, insider Deborah Ann Miller sold 5,500 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $99.22, for a total transaction of $545,710.00. Following the transaction, the insider owned 59,634 shares of the company’s stock, valued at $5,916,885.48. This represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Alexandra Balcom sold 11,430 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $105.21, for a total value of $1,202,550.30. Following the sale, the chief financial officer owned 85,533 shares in the company, valued at $8,998,926.93. This trade represents a 11.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 80,023 shares of company stock valued at $8,235,217. Insiders own 5.02% of the company’s stock.

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.