Nuvalent, Inc. $NUVL Shares Purchased by Commodore Capital LP

Commodore Capital LP grew its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 51.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,600 shares of the company’s stock after purchasing an additional 283,600 shares during the period. Nuvalent comprises about 4.9% of Commodore Capital LP’s investment portfolio, making the stock its 8th biggest position. Commodore Capital LP’s holdings in Nuvalent were worth $85,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of NUVL. GAMMA Investing LLC raised its position in shares of Nuvalent by 47.6% during the fourth quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. NBC Securities Inc. bought a new position in Nuvalent during the fourth quarter valued at about $125,000. KBC Group NV increased its stake in Nuvalent by 24.1% during the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after acquiring an additional 297 shares during the period. US Bancorp DE raised its holdings in Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after acquiring an additional 188 shares in the last quarter. Finally, Portland Investment Counsel Inc. acquired a new position in Nuvalent in the 4th quarter valued at approximately $201,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NUVL. Canaccord Genuity Group lowered Nuvalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Raymond James Financial lowered Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Wall Street Zen raised Nuvalent to a “sell” rating in a research report on Saturday, July 18th. Guggenheim downgraded shares of Nuvalent from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $151.00 to $124.00 in a research note on Wednesday, June 10th. Finally, UBS Group cut shares of Nuvalent from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $138.00 to $124.00 in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nuvalent currently has an average rating of “Hold” and an average price target of $127.73.

Insider Activity at Nuvalent

In other news, CEO James Richard Porter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $101.69, for a total transaction of $3,050,700.00. Following the sale, the chief executive officer directly owned 324,879 shares of the company’s stock, valued at $33,036,945.51. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total transaction of $593,120.00. Following the completion of the sale, the insider directly owned 59,634 shares of the company’s stock, valued at approximately $6,430,930.56. This represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,971 shares of company stock valued at $13,358,939 over the last ninety days. Company insiders own 5.02% of the company’s stock.

Nuvalent Stock Performance

Shares of NASDAQ:NUVL opened at $123.96 on Monday. The business has a fifty day moving average of $115.86 and a 200-day moving average of $107.40. Nuvalent, Inc. has a twelve month low of $71.13 and a twelve month high of $123.99. The firm has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.04). During the same period in the previous year, the company earned ($1.18) EPS. On average, analysts anticipate that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

About Nuvalent

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.