Candriam S.C.A. Purchases 28,462 Shares of Nuvalent, Inc. $NUVL

Candriam S.C.A. grew its position in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 9.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 329,721 shares of the company’s stock after purchasing an additional 28,462 shares during the quarter. Candriam S.C.A. owned approximately 0.46% of Nuvalent worth $28,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Nuvalent during the 2nd quarter worth approximately $28,582,000. Braidwell LP increased its position in Nuvalent by 39.8% in the 2nd quarter. Braidwell LP now owns 1,175,876 shares of the company’s stock valued at $89,719,000 after acquiring an additional 334,931 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Nuvalent by 72.8% during the second quarter. Ameriprise Financial Inc. now owns 484,343 shares of the company’s stock valued at $36,955,000 after acquiring an additional 204,002 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Nuvalent by 45.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 577,500 shares of the company’s stock worth $44,063,000 after purchasing an additional 180,500 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Nuvalent by 54.4% in the first quarter. Goldman Sachs Group Inc. now owns 453,620 shares of the company’s stock worth $32,171,000 after purchasing an additional 159,873 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insiders Place Their Bets

In other Nuvalent news, CFO Alexandra Balcom sold 3,181 shares of Nuvalent stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $97.16, for a total value of $309,065.96. Following the completion of the sale, the chief financial officer directly owned 81,733 shares of the company’s stock, valued at approximately $7,941,178.28. The trade was a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Henry E. Pelish sold 2,664 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $97.17, for a total transaction of $258,860.88. Following the transaction, the insider owned 65,888 shares in the company, valued at $6,402,336.96. This represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 871,466 shares of company stock valued at $84,032,132. 10.20% of the stock is currently owned by corporate insiders.

Nuvalent Stock Performance

Shares of NUVL stock opened at $102.99 on Tuesday. The company has a market cap of $7.49 billion, a P/E ratio of -19.36 and a beta of 1.32. The stock has a 50 day simple moving average of $104.21 and a two-hundred day simple moving average of $92.86. Nuvalent, Inc. has a fifty-two week low of $55.53 and a fifty-two week high of $113.01.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Tuesday, November 11th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.32). During the same period in the previous year, the company posted ($1.28) earnings per share. On average, research analysts predict that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on NUVL shares. Wedbush reaffirmed an “outperform” rating and set a $125.00 target price (up from $120.00) on shares of Nuvalent in a research report on Monday, November 17th. Stifel Nicolaus increased their price target on Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, November 17th. HC Wainwright lifted their price objective on Nuvalent from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Canaccord Genuity Group assumed coverage on Nuvalent in a report on Wednesday, November 12th. They issued a “buy” rating and a $126.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Nuvalent in a report on Wednesday, October 15th. They set an “overweight” rating and a $135.00 price target for the company. Fifteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Nuvalent 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.