Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) insider Henry E. Pelish sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.08, for a total transaction of $893,340.00. Following the completion of the sale, the insider now directly owns 66,095 shares of the company’s stock, valued at approximately $5,623,362.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Nuvalent Stock Up 0.2 %
Shares of Nuvalent stock traded up $0.14 during trading on Tuesday, reaching $84.28. 224,654 shares of the company were exchanged, compared to its average volume of 399,039. Nuvalent, Inc. has a twelve month low of $39.86 and a twelve month high of $89.39. The business has a 50-day moving average price of $76.79 and a 200-day moving average price of $75.57. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of -34.68 and a beta of 1.28.
Nuvalent (NASDAQ:NUVL – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same quarter last year, the business posted ($0.51) EPS. On average, equities research analysts forecast that Nuvalent, Inc. will post -3.06 EPS for the current fiscal year.
Hedge Funds Weigh In On Nuvalent
Wall Street Analyst Weigh In
A number of brokerages have commented on NUVL. Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of Nuvalent in a research report on Thursday, August 22nd. Lifesci Capital raised Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus lifted their price objective on Nuvalent from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Nine 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.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $91.88.
View Our Latest Stock Report on NUVL
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.
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