Nuvalent (NASDAQ:NUVL) Earns Neutral Rating from Analysts at UBS Group

Equities research analysts at UBS Group started coverage on shares of Nuvalent (NASDAQ:NUVL) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $100.00 price target on the stock. UBS Group’s price target indicates a potential upside of 10.25% from the company’s previous close.

A number of other brokerages also recently weighed in on NUVL. Guggenheim raised their target price on shares of Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wedbush lifted their price target on Nuvalent from $99.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised Nuvalent to a “strong sell” rating in a research report on Monday, September 16th. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets upped their price target on Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.40.

Nuvalent Price Performance

NASDAQ:NUVL opened at $90.70 on Thursday. The company has a market cap of $5.88 billion, a PE ratio of -32.63 and a beta of 1.29. Nuvalent has a one year low of $49.02 and a one year high of $113.51. The firm’s 50 day simple moving average is $94.90 and its 200 day simple moving average is $80.45.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same quarter last year, the company posted ($0.51) EPS. Equities research analysts expect that Nuvalent will post -3.52 EPS for the current year.

Insider Activity

In other news, Director James E. Flynn sold 2,000,000 shares of Nuvalent stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $97.75, for a total value of $195,500,000.00. Following the sale, the director now directly owns 8,670,512 shares of the company’s stock, valued at $847,542,548. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $102.28, for a total value of $2,761,560.00. Following the sale, the chief executive officer now owns 188,113 shares in the company, valued at $19,240,197.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Flynn sold 2,000,000 shares of Nuvalent stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $97.75, for a total value of $195,500,000.00. Following the completion of the sale, the director now owns 8,670,512 shares in the company, valued at $847,542,548. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,130,629 shares of company stock worth $207,651,868 over the last three months. 12.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuvalent

Several large investors have recently bought and sold shares of the stock. Edgestream Partners L.P. acquired a new position in shares of Nuvalent during the 2nd quarter worth about $1,191,000. Seven Eight Capital LP purchased a new stake in Nuvalent during the first quarter worth $1,172,000. Vanguard Group Inc. boosted its position in Nuvalent by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,412,072 shares of the company’s stock worth $256,212,000 after purchasing an additional 72,222 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Nuvalent by 80.5% in the second quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock valued at $26,409,000 after acquiring an additional 155,276 shares in the last quarter. Finally, Samlyn Capital LLC purchased a new stake in shares of Nuvalent in the second quarter valued at $17,397,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.