Advantage Alpha Capital Partners LP Purchases Shares of 4,851 Nuvalent, Inc. (NASDAQ:NUVL)

Advantage Alpha Capital Partners LP purchased a new stake in Nuvalent, Inc. (NASDAQ:NUVL) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,851 shares of the company’s stock, valued at approximately $496,000.

Several other institutional investors and hedge funds also recently modified their holdings of NUVL. Quest Partners LLC bought a new stake in Nuvalent in the 2nd quarter valued at approximately $44,000. Amalgamated Bank raised its holdings in shares of 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 purchasing an additional 198 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nuvalent by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,147 shares of the company’s stock worth $213,000 after purchasing an additional 382 shares in the last quarter. Creative Planning acquired a new position in Nuvalent during the third quarter worth $232,000. Finally, Mount Yale Investment Advisors LLC bought a new position in Nuvalent in the first quarter valued at $202,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group raised shares of Nuvalent to a “strong sell” rating in a research report on Monday, September 16th. UBS Group assumed coverage on Nuvalent in a report on Thursday, October 24th. They set a “neutral” rating and a $100.00 target price on the stock. Guggenheim raised their price target on Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Stifel Nicolaus boosted their price target on Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of Nuvalent in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.60.

Nuvalent Stock Up 0.7 %

Shares of NUVL stock opened at $96.30 on Wednesday. Nuvalent, Inc. has a 52 week low of $61.01 and a 52 week high of $113.51. The company has a 50-day simple moving average of $97.47 and a 200 day simple moving average of $84.23.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35). During the same period in the prior year, the company posted ($0.59) earnings per share. Equities research analysts predict that Nuvalent, Inc. will post -3.84 earnings per share for the current year.

Insider Activity at Nuvalent

In other Nuvalent news, Director Matthew Shair sold 2,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $102.75, for a total transaction of $205,500.00. Following the transaction, the director now owns 226,522 shares in the company, valued at $23,275,135.50. This represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alexandra Balcom sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $84.23, for a total transaction of $842,300.00. Following the transaction, the chief financial officer now directly owns 33,300 shares in the company, valued at $2,804,859. This represents a 23.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,106,795 shares of company stock worth $205,834,791 in the last ninety days. 12.52% of the stock is owned by company insiders.

Nuvalent 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.