Nuvalent, Inc. $NUVL Holdings Raised by HighVista Strategies LLC

HighVista Strategies LLC increased its position in Nuvalent, Inc. (NASDAQ:NUVL) by 84.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,294 shares of the company’s stock after acquiring an additional 42,834 shares during the period. Nuvalent makes up about 2.0% of HighVista Strategies LLC’s investment portfolio, making the stock its 7th biggest position. HighVista Strategies LLC owned approximately 0.13% of Nuvalent worth $8,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in Nuvalent during the 3rd quarter valued at about $38,000. Eastern Bank acquired a new position in Nuvalent in the third quarter valued at $52,000. Persistent Asset Partners Ltd purchased a new stake in Nuvalent during the second quarter valued at about $88,000. PNC Financial Services Group Inc. raised its holdings in shares of Nuvalent by 38.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,632 shares of the company’s stock worth $125,000 after purchasing an additional 451 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in shares of Nuvalent in the 3rd quarter valued at about $172,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NUVL has been the topic of several research reports. The Goldman Sachs Group raised their price target on shares of Nuvalent from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. UBS Group reissued a “buy” rating on shares of Nuvalent in a research report on Wednesday, December 17th. JPMorgan Chase & Co. decreased their target price on Nuvalent from $147.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Barclays set a $152.00 target price on Nuvalent in a report on Monday, November 17th. Finally, Wedbush restated an “outperform” rating and issued a $125.00 price target (up from $120.00) on shares of Nuvalent in a report on Monday, November 17th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

Insider Activity at Nuvalent

In other Nuvalent news, insider Henry E. Pelish sold 2,664 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $97.17, for a total value of $258,860.88. Following the transaction, the insider directly owned 65,888 shares of the company’s stock, valued at $6,402,336.96. This represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Richard Porter sold 9,543 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $927,197.88. Following the transaction, the chief executive officer owned 278,629 shares of the company’s stock, valued at approximately $27,071,593.64. This trade represents a 3.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 69,379 shares of company stock worth $6,940,982 over the last ninety days. Company insiders own 10.20% of the company’s stock.

Nuvalent Stock Performance

NASDAQ:NUVL opened at $97.93 on Monday. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of -16.74 and a beta of 1.32. Nuvalent, Inc. has a one year low of $55.53 and a one year high of $113.01. The business’s 50-day simple moving average is $102.97 and its 200 day simple moving average is $97.09.

Nuvalent Company Profile

Nuvalent, Inc (NASDAQ:NUVL) is a clinical-stage precision oncology company focused on the discovery, development and commercialization of targeted therapies for patients with genetically defined cancers. Founded in 2019 and headquartered in San Diego, California, Nuvalent applies structure-guided drug design to develop small molecule inhibitors that address key oncogenic drivers. The company’s research platform integrates insights from cancer biology, medicinal chemistry and translational science to create therapies with differentiated selectivity and potency against validated targets.

Nuvalent’s lead pipeline candidates include NVL-520, a highly selective RET inhibitor designed to minimize off-target effects, and NVL-655, a potent covalent inhibitor targeting KRAS G12D mutations.