HC Wainwright Brokers Lower Earnings Estimates for Nuvalent

Nuvalent, Inc. (NASDAQ:NUVL) – Equities researchers at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for shares of Nuvalent in a report released on Monday, March 2nd. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings per share of $6.52 for the year, down from their prior forecast of $6.77. HC Wainwright has a “Buy” rating and a $155.00 price target on the stock. The consensus estimate for Nuvalent’s current full-year earnings is ($3.86) per share.

A number of other equities research analysts also recently commented on NUVL. The Goldman Sachs Group lifted their target price on Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Barclays set a $152.00 price objective on shares of Nuvalent in a research note on Monday, November 17th. Canaccord Genuity Group initiated coverage on shares of Nuvalent in a research note on Wednesday, November 12th. They issued a “buy” rating and a $126.00 price objective on the stock. Leerink Partners boosted their target price on shares of Nuvalent from $140.00 to $149.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nuvalent from $147.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, December 19th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.67.

Nuvalent Stock Performance

Nuvalent stock opened at $100.22 on Wednesday. The business’s 50-day simple moving average is $103.31 and its two-hundred day simple moving average is $95.64. The company has a market cap of $7.29 billion, a PE ratio of -17.13 and a beta of 1.32. Nuvalent has a fifty-two week low of $55.53 and a fifty-two week high of $113.01.

Institutional Trading of Nuvalent

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Nuvalent by 47.6% during the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock worth $34,000 after purchasing an additional 108 shares during the last quarter. Kennedy Capital Management LLC increased its stake in Nuvalent by 1.5% during the 4th quarter. Kennedy Capital Management LLC now owns 10,932 shares of the company’s stock worth $1,100,000 after buying an additional 163 shares in the last quarter. US Bancorp DE raised its holdings in shares of Nuvalent by 10.0% during the third quarter. US Bancorp DE now owns 2,070 shares of the company’s stock valued at $179,000 after acquiring an additional 188 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Nuvalent by 1.9% in the third quarter. Arizona State Retirement System now owns 11,778 shares of the company’s stock valued at $1,019,000 after acquiring an additional 220 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Nuvalent by 7.7% in the third quarter. Principal Financial Group Inc. now owns 3,290 shares of the company’s stock worth $285,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Activity at Nuvalent

In other news, CFO Alexandra Balcom sold 7,084 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $110.32, for a total transaction of $781,506.88. Following the transaction, the chief financial officer owned 54,650 shares in the company, valued at $6,028,988. This trade represents a 11.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Durant Turner sold 4,236 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $97.32, for a total transaction of $412,247.52. Following the completion of the sale, the insider directly owned 58,311 shares of the company’s stock, valued at approximately $5,674,826.52. The trade was a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,463 shares of company stock valued at $7,722,489 in the last ninety days. 10.20% of the stock is currently owned by company insiders.

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.