Seven Fleet Capital Management LP Buys New Stake in Nuvalent, Inc. $NUVL

Seven Fleet Capital Management LP acquired a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 12,601 shares of the company’s stock, valued at approximately $1,268,000. Nuvalent accounts for approximately 1.0% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Nuvalent by 47.6% in the 4th quarter. GAMMA Investing LLC now owns 335 shares of the company’s stock valued at $34,000 after purchasing an additional 108 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Nuvalent during the third quarter worth approximately $38,000. NBC Securities Inc. acquired a new position in Nuvalent during the fourth quarter worth approximately $125,000. KBC Group NV lifted its stake in Nuvalent by 24.1% in the fourth quarter. KBC Group NV now owns 1,527 shares of the company’s stock valued at $154,000 after buying an additional 297 shares during the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in shares of Nuvalent in the third quarter valued at approximately $172,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Stock Performance

Nuvalent stock opened at $123.43 on Friday. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of -20.37 and a beta of 1.15. Nuvalent, Inc. has a fifty-two week low of $71.13 and a fifty-two week high of $123.62. The stock’s fifty day moving average is $105.75 and its two-hundred day moving average is $103.80.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period last year, the business earned ($1.18) earnings per share. As a group, sell-side analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, insider Deborah Ann Miller sold 5,500 shares of Nuvalent stock in a transaction dated 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 transaction, the insider owned 59,634 shares in the company, valued at approximately $6,430,930.56. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Richard Porter sold 30,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $88.53, for a total transaction of $2,655,900.00. Following the completion of the sale, the chief executive officer directly owned 324,879 shares in the company, valued at $28,761,537.87. This trade represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 126,953 shares of company stock valued at $12,612,264 in the last quarter. Insiders own 5.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NUVL shares. Guggenheim lowered shares of Nuvalent from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $151.00 to $124.00 in a research report on Wednesday, June 10th. Robert W. Baird set a $122.85 price target on shares of Nuvalent in a research report on Tuesday, June 9th. Wedbush cut shares of Nuvalent from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $124.00 in a research note on Tuesday, June 9th. Canaccord Genuity Group downgraded shares of Nuvalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Raymond James Financial lowered shares of Nuvalent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $131.15.

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.