Darlene Noci Sells 5,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Darlene Noci sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $84.43, for a total value of $422,150.00. Following the completion of the sale, the insider now directly owns 33,300 shares of the company’s stock, valued at approximately $2,811,519. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Darlene Noci also recently made the following trade(s):

• On Thursday, August 1st, Darlene Noci sold 5,000 shares of Nuvalent stock. The stock was sold at an average price of $77.22, for a total transaction of $386,100.00.
• On Monday, July 1st, Darlene Noci sold 5,000 shares of Nuvalent stock. The shares were sold at an average price of $75.54, for a total transaction of $377,700.00.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $84.96 on Friday. Nuvalent, Inc. has a 1 year low of $39.86 and a 1 year high of $89.39. The firm’s 50-day moving average is $77.74 and its 200 day moving average is $75.74. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -35.25 and a beta of 1.28.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same period in the previous year, the company posted ($0.51) EPS. On average, equities analysts expect that Nuvalent, Inc. will post -3.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Nuvalent by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,412,072 shares of the company’s stock worth $256,212,000 after acquiring an additional 72,222 shares during the period. Perceptive Advisors LLC lifted its stake in shares of Nuvalent by 18.5% in the 4th quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock worth $214,735,000 after purchasing an additional 454,540 shares during the period. Darwin Global Management Ltd. boosted its holdings in shares of Nuvalent by 2,390.5% in the first quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock worth $107,902,000 after buying an additional 1,379,266 shares during the last quarter. Commodore Capital LP increased its holdings in Nuvalent by 60.6% during the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock valued at $97,951,000 after buying an additional 502,259 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its position in Nuvalent by 3.5% in the second quarter. Driehaus Capital Management LLC now owns 696,607 shares of the company’s stock worth $52,845,000 after acquiring an additional 23,730 shares during the period. Institutional investors own 97.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus raised their price objective on shares of Nuvalent from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wedbush restated an “outperform” rating and issued a $9.00 target price on shares of Nuvalent in a research note on Thursday, August 22nd. Lifesci Capital upgraded Nuvalent to a “strong-buy” rating in a report on Monday, July 29th. Barclays began coverage on Nuvalent in a research report on Thursday, August 29th. They set an “overweight” rating and a $100.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Nuvalent from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $93.00.

About Nuvalent

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.