Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) Director Matthew Shair sold 2,000 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $78.43, for a total transaction of $156,860.00. Following the completion of the sale, the director now directly owns 216,522 shares in the company, valued at approximately $16,981,820.46. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Matthew Shair also recently made the following trade(s):
- On Monday, January 27th, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $82.79, for a total transaction of $165,580.00.
- On Monday, December 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $83.78, for a total transaction of $167,560.00.
Nuvalent Stock Down 2.7 %
Shares of NASDAQ:NUVL opened at $75.89 on Wednesday. The firm has a market cap of $5.39 billion, a PE ratio of -21.87 and a beta of 1.38. The company's 50 day moving average price is $80.88 and its two-hundred day moving average price is $88.43. Nuvalent, Inc. has a 12-month low of $61.79 and a 12-month high of $113.51.
Analysts Set New Price Targets
A number of research analysts recently commented on NUVL shares. BMO Capital Markets upped their price target on shares of Nuvalent from $132.00 to $134.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Wedbush reiterated an "outperform" rating and issued a $115.00 price target on shares of Nuvalent in a research note on Monday, January 13th. Finally, HC Wainwright restated a "buy" rating and set a $110.00 target price on shares of Nuvalent in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $113.10.
Get Our Latest Report on NUVL
Institutional Trading of Nuvalent
Large investors have recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Nuvalent during the 4th quarter worth approximately $27,000. Quarry LP acquired a new stake in shares of Nuvalent during the 4th quarter worth approximately $39,000. US Bancorp DE acquired a new stake in shares of Nuvalent during the 4th quarter worth approximately $90,000. GF Fund Management CO. LTD. acquired a new stake in shares of Nuvalent during the 4th quarter worth approximately $108,000. Finally, KBC Group NV boosted its position in shares of Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company's stock worth $124,000 after acquiring an additional 602 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.
About Nuvalent
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
