Nuvalent (NASDAQ:NUVL – Get Free Report)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $110.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 45.04% from the stock’s previous close.
Several other analysts have also issued reports on NUVL. BMO Capital Markets boosted their target price on shares of Nuvalent from $132.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. UBS Group began coverage on Nuvalent in a research note on Thursday, October 24th. They issued a “neutral” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of Nuvalent in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Nuvalent presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.36.
View Our Latest Stock Report on NUVL
Nuvalent Trading Down 0.2 %
Nuvalent (NASDAQ:NUVL – Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35). During the same quarter in the prior year, the company earned ($0.59) earnings per share. As a group, research analysts forecast that Nuvalent will post -3.86 EPS for the current fiscal year.
Insider Transactions at Nuvalent
In other Nuvalent news, CFO Alexandra Balcom sold 4,016 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $79.68, for a total transaction of $319,994.88. Following the completion of the transaction, the chief financial officer now owns 61,734 shares in the company, valued at $4,918,965.12. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Richard Porter sold 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $75.99, for a total value of $2,051,730.00. Following the transaction, the chief executive officer now directly owns 249,062 shares in the company, valued at approximately $18,926,221.38. This represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,093,800 shares of company stock worth $203,221,944. 12.52% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Nuvalent
Several hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in shares of Nuvalent by 62.0% during the second quarter. Commonwealth Equity Services LLC now owns 4,404 shares of the company’s stock worth $334,000 after purchasing an additional 1,686 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Nuvalent by 80.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock worth $26,409,000 after buying an additional 155,276 shares during the period. Edgestream Partners L.P. bought a new stake in Nuvalent during the 2nd quarter valued at about $1,191,000. Amalgamated Bank boosted its position in Nuvalent by 21.8% in the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after buying an additional 198 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new position in Nuvalent in the 2nd quarter worth about $218,000. 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.
Further Reading
- Five stocks we like better than Nuvalent
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Top ETFs That Beat the Market in 2024 and Could Do It Again
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- J.B. Hunt Leads Truckers Lower: Buy Them While They’re Down?
- What is an Earnings Surprise?
- MarketBeat Week in Review – 01/13 – 01/17
Receive News & Ratings for Nuvalent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvalent and related companies with MarketBeat.com's FREE daily email newsletter.