TD Asset Management Inc Has $15.43 Million Position in Nuvalent, Inc. $NUVL

TD Asset Management Inc grew its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 39.9% during the fourth quarter, HoldingsChannel reports. The firm owned 153,360 shares of the company’s stock after buying an additional 43,776 shares during the quarter. TD Asset Management Inc’s holdings in Nuvalent were worth $15,426,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 108 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nuvalent in the 3rd quarter valued at approximately $38,000. NBC Securities Inc. acquired a new stake in shares of Nuvalent in the 4th quarter valued at approximately $125,000. KBC Group NV boosted its stake in shares of 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 purchasing an additional 297 shares in the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in Nuvalent during the 3rd quarter worth approximately $172,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nuvalent

In related news, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total value of $593,120.00. Following the completion of the sale, the insider owned 59,634 shares of the company’s stock, valued at approximately $6,430,930.56. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Richard Porter sold 30,000 shares of Nuvalent stock in a transaction on Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the completion of the sale, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at approximately $33,036,945.51. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 96,953 shares of company stock worth $9,956,364. 5.02% of the stock is owned by insiders.

Nuvalent Stock Down 2.7%

NASDAQ:NUVL opened at $88.49 on Tuesday. The company has a fifty day moving average of $102.38 and a 200-day moving average of $102.97. The firm has a market capitalization of $6.99 billion, a P/E ratio of -14.60 and a beta of 1.15. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $113.01.

Nuvalent (NASDAQ:NUVL) last released 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 quarter in the prior year, the company posted ($1.18) EPS. On average, analysts anticipate that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NUVL has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Nuvalent in a research report on Monday, March 30th. They set an “overweight” rating and a $116.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $155.00 target price on shares of Nuvalent in a research report on Tuesday, April 21st. Sanford C. Bernstein initiated coverage on shares of Nuvalent in a research report on Thursday, May 21st. They set an “outperform” rating and a $189.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Tuesday, April 21st. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Nuvalent in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $141.24.

Nuvalent 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.