Matthew Shair Sells 2,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $96.22, for a total transaction of $192,440.00. Following the completion of the transaction, the director now directly owns 222,522 shares of the company’s stock, valued at $21,411,066.84. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Matthew Shair also recently made the following trade(s):

• On Monday, October 28th, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $91.73, for a total value of $183,460.00.
• On Monday, September 23rd, Matthew Shair sold 2,000 shares of Nuvalent stock. The stock was sold at an average price of $102.75, for a total value of $205,500.00.

Nuvalent Trading Up 0.5 %

NUVL opened at $96.76 on Friday. The firm has a fifty day moving average price of $97.19 and a 200 day moving average price of $84.53. Nuvalent, Inc. has a 1 year low of $61.01 and a 1 year high of $113.51.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.35). During the same quarter in the previous year, the business earned ($0.59) earnings per share. On average, research analysts forecast that Nuvalent, Inc. will post -3.84 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on NUVL shares. Stifel Nicolaus lifted their target price on Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, September 16th. UBS Group assumed coverage on Nuvalent in a research report on Thursday, October 24th. They set a “neutral” rating and a $100.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Nuvalent in a research report on Tuesday, November 12th. BMO Capital Markets upped their target price on Nuvalent from $132.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Barclays initiated coverage on Nuvalent in a research note on Thursday, August 29th. They issued an “overweight” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Nuvalent during the third quarter worth about $759,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Nuvalent by 82.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 5,324 shares of the company’s stock worth $545,000 after buying an additional 2,400 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Nuvalent by 9.4% in the third quarter. Geode Capital Management LLC now owns 855,610 shares of the company’s stock valued at $87,546,000 after acquiring an additional 73,429 shares during the last quarter. M&T Bank Corp grew its position in Nuvalent by 21.0% in the third quarter. M&T Bank Corp now owns 7,281 shares of the company’s stock worth $745,000 after acquiring an additional 1,263 shares during the period. Finally, Barclays PLC increased its stake in Nuvalent by 149.0% during the third quarter. Barclays PLC now owns 68,107 shares of the company’s stock worth $6,968,000 after acquiring an additional 40,754 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.