Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $102.75, for a total value of $205,500.00. Following the completion of the sale, the director now owns 226,522 shares of the company's stock, valued at $23,275,135.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Matthew Shair also recently made the following trade(s):
- On Monday, August 26th, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $84.46, for a total transaction of $168,920.00.
- On Monday, July 29th, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $79.59, for a total transaction of $159,180.00.
Nuvalent Trading Down 0.8 %
Shares of NUVL stock opened at $100.45 on Thursday. The firm's fifty day moving average price is $83.50 and its two-hundred day moving average price is $76.83. Nuvalent, Inc. has a 1 year low of $41.16 and a 1 year high of $113.51. The firm has a market capitalization of $6.48 billion, a P/E ratio of -41.68 and a beta of 1.28.
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Nuvalent (NASDAQ:NUVL - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same period last year, the company posted ($0.51) earnings per share. As a group, equities research analysts forecast that Nuvalent, Inc. will post -3.55 EPS for the current fiscal year.
Institutional Trading of Nuvalent
A number of large investors have recently added to or reduced their stakes in NUVL. Quest Partners LLC bought a new stake in shares of Nuvalent in the 2nd quarter valued at about $44,000. Amalgamated Bank raised its stake in Nuvalent by 21.8% in the second quarter. Amalgamated Bank now owns 1,105 shares of the company's stock valued at $84,000 after buying an additional 198 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Nuvalent in the first quarter valued at approximately $121,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Nuvalent by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company's stock worth $168,000 after acquiring an additional 189 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Nuvalent during the 1st quarter worth approximately $202,000. Institutional investors and hedge funds own 97.26% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Nuvalent from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. The Goldman Sachs Group raised shares of Nuvalent to a "strong sell" rating in a research report on Monday, September 16th. Barclays assumed coverage on Nuvalent in a report on Thursday, August 29th. They issued an "overweight" rating and a $100.00 price target for the company. Wedbush raised their target price on shares of Nuvalent from $99.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, September 16th. Finally, Stifel Nicolaus lifted their price target on shares of Nuvalent from $115.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $111.00.
View Our Latest Research Report on Nuvalent
About Nuvalent
(
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Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.
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