Emily Conley Sells 5,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Emily Conley sold 5,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $77.56, for a total value of $387,800.00. Following the sale, the director now owns 2,507 shares in the company, valued at approximately $194,442.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nuvalent Price Performance

Shares of NASDAQ:NUVL opened at $78.10 on Wednesday. The business has a 50 day moving average of $69.72 and a two-hundred day moving average of $74.72. Nuvalent, Inc. has a 12-month low of $38.78 and a 12-month high of $89.39.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, May 9th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.02). As a group, equities analysts anticipate that Nuvalent, Inc. will post -3.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NUVL. Compass Wealth Management LLC acquired a new position in shares of Nuvalent during the 4th quarter worth approximately $63,000. SG Americas Securities LLC acquired a new position in shares of Nuvalent during the 1st quarter worth approximately $121,000. Allspring Global Investments Holdings LLC increased its position in shares of Nuvalent by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock worth $168,000 after purchasing an additional 189 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of Nuvalent during the first quarter worth approximately $202,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Nuvalent by 33.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,960 shares of the company’s stock worth $218,000 after purchasing an additional 750 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUVL has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Nuvalent from $68.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Robert W. Baird initiated coverage on Nuvalent in a report on Friday, February 23rd. They set an “outperform” rating and a $105.00 target price for the company. Jefferies Financial Group initiated coverage on Nuvalent in a report on Wednesday, April 17th. They set a “buy” rating and a $97.00 target price for the company. BMO Capital Markets lifted their target price on Nuvalent from $93.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, SVB Leerink raised Nuvalent from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $69.00 to $110.00 in a report on Monday, April 1st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Nuvalent has an average rating of “Moderate Buy” and a consensus target price of $90.78.

Nuvalent Company Profile

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.