Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) CEO James Richard Porter sold 27,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $68.94, for a total value of $1,861,380.00. Following the transaction, the chief executive officer now owns 249,062 shares of the company's stock, valued at $17,170,334.28. This trade represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
James Richard Porter also recently made the following trade(s):
- On Monday, March 17th, James Richard Porter sold 27,000 shares of Nuvalent stock. The shares were sold at an average price of $75.87, for a total transaction of $2,048,490.00.
- On Tuesday, February 18th, James Richard Porter sold 27,000 shares of Nuvalent stock. The shares were sold at an average price of $78.46, for a total transaction of $2,118,420.00.
Nuvalent Stock Performance
Shares of Nuvalent stock opened at $71.64 on Friday. Nuvalent, Inc. has a 52 week low of $55.54 and a 52 week high of $113.51. The stock has a 50 day moving average price of $73.00 and a two-hundred day moving average price of $83.82. The stock has a market capitalization of $5.13 billion, a PE ratio of -20.65 and a beta of 1.43.
Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Research analysts forecast that Nuvalent, Inc. will post -3.86 EPS for the current year.
Wall Street Analyst Weigh In
NUVL has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $110.00 target price on shares of Nuvalent in a report on Monday, March 3rd. UBS Group raised Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Friday, March 14th. Finally, Wedbush reaffirmed an "outperform" rating and set a $115.00 target price on shares of Nuvalent in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nuvalent has an average rating of "Moderate Buy" and a consensus target price of $115.50.
View Our Latest Stock Analysis on Nuvalent
Institutional Investors Weigh In On Nuvalent
Several hedge funds and other institutional investors have recently made changes to their positions in NUVL. Boxer Capital Management LLC acquired a new position in Nuvalent during the 4th quarter valued at about $87,689,000. Vestal Point Capital LP bought a new position in shares of Nuvalent in the fourth quarter valued at approximately $46,968,000. Polar Capital Holdings Plc boosted its position in shares of Nuvalent by 161.2% during the fourth quarter. Polar Capital Holdings Plc now owns 946,723 shares of the company's stock valued at $74,109,000 after buying an additional 584,223 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Nuvalent by 142.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company's stock worth $53,230,000 after buying an additional 400,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Nuvalent by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 4,499,864 shares of the company's stock valued at $352,249,000 after buying an additional 366,239 shares during the last quarter. 97.26% of the stock is owned by institutional investors.
Nuvalent Company Profile
(
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.
Further Reading
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