Insider Selling: Nuvalent (NASDAQ:NUVL) Insider Sells $309,065.96 in Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Christopher Durant Turner sold 3,181 shares of Nuvalent stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $97.16, for a total transaction of $309,065.96. Following the completion of the transaction, the insider owned 55,130 shares in the company, valued at approximately $5,356,430.80. The trade was a 5.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Christopher Durant Turner also recently made the following trade(s):

• On Monday, January 5th, Christopher Durant Turner sold 4,236 shares of Nuvalent stock. The shares were sold at an average price of $97.32, for a total transaction of $412,247.52.

Nuvalent Trading Up 2.3%

Shares of NASDAQ:NUVL opened at $105.05 on Friday. The stock has a market capitalization of $7.64 billion, a P/E ratio of -19.75 and a beta of 1.32. The stock’s 50-day moving average price is $102.85 and its 200-day moving average price is $89.21. Nuvalent, Inc. has a 12-month low of $55.53 and a 12-month high of $112.88.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same quarter in the prior year, the company earned ($1.28) earnings per share. As a group, research analysts predict that Nuvalent, Inc. will post -3.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NUVL. UBS Group reaffirmed a “buy” rating on shares of Nuvalent in a research note on Wednesday, December 17th. Stifel Nicolaus boosted their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Leerink Partners upped their price objective on shares of Nuvalent from $140.00 to $149.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Guggenheim increased their target price on shares of Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvalent in a report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Institutional Investors Weigh In On Nuvalent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUVL. GAMMA Investing LLC lifted its position in 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 period. Aster Capital Management DIFC Ltd bought a new position in shares of Nuvalent in the 3rd quarter worth about $38,000. Eastern Bank purchased a new position in Nuvalent during the 3rd quarter valued at about $52,000. Persistent Asset Partners Ltd purchased a new position in Nuvalent during the 2nd quarter valued at about $88,000. Finally, Farther Finance Advisors LLC boosted its stake in Nuvalent by 9,230.8% during the second quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock worth $93,000 after acquiring an additional 1,200 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.