Defilade Capital Management L.P. Trims Stock Holdings in Nuvalent, Inc. $NUVL

Defilade Capital Management L.P. cut its holdings in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 51.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,950 shares of the company’s stock after selling 139,093 shares during the quarter. Nuvalent makes up approximately 1.9% of Defilade Capital Management L.P.’s holdings, making the stock its 24th largest holding. Defilade Capital Management L.P. owned about 0.16% of Nuvalent worth $13,313,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NUVL. Kennedy Capital Management LLC boosted 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 valued at $1,100,000 after acquiring an additional 163 shares during the last quarter. US Bancorp DE increased its position in shares of Nuvalent by 10.0% in the 3rd quarter. US Bancorp DE now owns 2,070 shares of the company’s stock worth $179,000 after purchasing an additional 188 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Nuvalent by 141.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 333 shares of the company’s stock valued at $34,000 after purchasing an additional 195 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in shares of Nuvalent by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 4,657 shares of the company’s stock valued at $477,000 after purchasing an additional 253 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Nuvalent by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,736 shares of the company’s stock worth $289,000 after purchasing an additional 266 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $124.00 price target (up from $116.00) on shares of Nuvalent in a research note on Tuesday, June 9th. Stifel Nicolaus set a $124.00 target price on Nuvalent in a report on Tuesday, June 9th. Leerink Partners set a $165.00 target price on Nuvalent in a report on Wednesday, June 3rd. Robert W. Baird set a $122.85 target price on Nuvalent in a research report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Nuvalent to a “sell” rating in a report on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.73.

Insiders Place Their Bets

In other Nuvalent news, CFO Alexandra Balcom sold 11,430 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $123.58, for a total transaction of $1,412,519.40. Following the completion of the transaction, the chief financial officer owned 85,533 shares in the company, valued at approximately $10,570,168.14. The trade was a 11.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Deborah Ann Miller sold 5,500 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $107.84, for a total value of $593,120.00. Following the transaction, the insider directly owned 59,634 shares in the company, valued at $6,430,930.56. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 90,471 shares of company stock worth $9,762,529 over the last 90 days. Insiders own 5.02% of the company’s stock.

Nuvalent Price Performance

NUVL stock opened at $123.96 on Monday. The stock has a market cap of $9.79 billion, a PE ratio of -20.46 and a beta of 1.14. The firm’s 50-day simple moving average is $118.13 and its 200 day simple moving average is $108.16. Nuvalent, Inc. has a fifty-two week low of $71.13 and a fifty-two week high of $123.99.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.04). During the same period in the previous year, the company posted ($1.18) EPS. Equities analysts forecast that Nuvalent, Inc. will post -5.74 EPS for the current fiscal year.

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.