Nuvalent, Inc. (NASDAQ:NUVL) Director Sells $195,500,000.00 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director James E. Flynn sold 2,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 8,670,512 shares in the company, valued at $847,542,548. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nuvalent Trading Down 3.1 %

NUVL opened at $90.70 on Friday. The stock has a 50-day moving average of $94.90 and a 200 day moving average of $80.52. Nuvalent, Inc. has a 12 month low of $49.02 and a 12 month high of $113.51. The firm has a market cap of $5.86 billion, a P/E ratio of -37.63 and a beta of 1.29.

Nuvalent (NASDAQ:NUVL) last announced its 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 period in the previous year, the firm posted ($0.51) earnings per share. On average, research analysts forecast that Nuvalent, Inc. will post -3.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NUVL. BMO Capital Markets boosted their price target on Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Guggenheim boosted their target price on shares of Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Barclays initiated coverage on shares of Nuvalent in a research report on Thursday, August 29th. They set an “overweight” rating and a $100.00 target price for the company. The Goldman Sachs Group upgraded shares of Nuvalent to a “strong sell” rating in a report on Monday, September 16th. Finally, Lifesci Capital upgraded Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nuvalent presently has a consensus rating of “Moderate Buy” and an average target price of $112.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NUVL. Darwin Global Management Ltd. lifted its holdings in shares of Nuvalent by 2,390.5% in the 1st quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock worth $107,902,000 after acquiring an additional 1,379,266 shares during the last quarter. Vanguard Group Inc. raised its position in Nuvalent by 56.5% in the 4th quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after purchasing an additional 1,205,668 shares during the period. Samlyn Capital LLC bought a new stake in Nuvalent in the second quarter worth about $17,397,000. Logos Global Management LP purchased a new position in shares of Nuvalent during the second quarter valued at approximately $14,793,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Nuvalent by 80.5% during the second quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock valued at $26,409,000 after buying an additional 155,276 shares during the period. 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.