Nuvalent, Inc. (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 6,000 Shares

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $80.16, for a total transaction of $480,960.00. Following the transaction, the insider now directly owns 33,300 shares of the company’s stock, valued at $2,669,328. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Deborah Ann Miller also recently made the following trade(s):

• On Monday, July 8th, Deborah Ann Miller sold 3,000 shares of Nuvalent stock. The stock was sold at an average price of $73.23, for a total transaction of $219,690.00.
• On Thursday, May 2nd, Deborah Ann Miller sold 3,000 shares of Nuvalent stock. The stock was sold at an average price of $72.07, for a total transaction of $216,210.00.

Nuvalent Trading Up 3.1 %

Shares of NUVL stock traded up $2.56 on Tuesday, hitting $84.01. 669,472 shares of the stock traded hands, compared to its average volume of 422,891. The firm’s 50-day moving average price is $73.48 and its two-hundred day moving average price is $75.28. Nuvalent, Inc. has a twelve month low of $39.86 and a twelve month high of $89.39.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.02). As a group, equities analysts predict that Nuvalent, Inc. will post -3.06 earnings per share for the current year.

Institutional Trading of Nuvalent

Several institutional investors and hedge funds have recently bought and sold shares of NUVL. Darwin Global Management Ltd. raised its holdings in Nuvalent by 2,390.5% in the 1st quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock valued at $107,902,000 after buying an additional 1,379,266 shares during the period. Vanguard Group Inc. increased its stake in Nuvalent by 56.5% during the fourth 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. Commodore Capital LP increased its stake in Nuvalent by 60.6% during the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after purchasing an additional 502,259 shares during the period. Perceptive Advisors LLC increased its stake in Nuvalent by 18.5% during the fourth 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. Finally, First Turn Management LLC purchased a new stake in Nuvalent during the fourth quarter worth about $18,831,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NUVL. SVB Leerink raised shares of Nuvalent from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $69.00 to $110.00 in a report on Monday, April 1st. Jefferies Financial Group began coverage on shares of Nuvalent in a report on Wednesday, April 17th. They set a “buy” rating and a $97.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $99.00 price target on shares of Nuvalent in a report on Friday, May 17th. Leerink Partnrs raised shares of Nuvalent from a “market perform” rating to an “outperform” rating in a report on Monday, April 1st. Finally, Stifel Nicolaus lifted their target price on shares of Nuvalent from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

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.