Matthew Shair Sells 37,500 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVLGet Free Report) Director Matthew Shair sold 37,500 shares of Nuvalent stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $76.92, for a total value of $2,884,500.00. Following the completion of the sale, the director now directly owns 1,649,698 shares in the company, valued at approximately $126,894,770.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Monday, March 25th, Matthew Shair sold 37,500 shares of Nuvalent stock. The shares were sold at an average price of $76.77, for a total value of $2,878,875.00.

Nuvalent Stock Up 0.8 %

Shares of NASDAQ:NUVL opened at $74.00 on Thursday. Nuvalent, Inc. has a 12-month low of $23.09 and a 12-month high of $89.39. The stock has a market cap of $4.74 billion, a PE ratio of -34.26 and a beta of 1.29. The business has a 50 day moving average of $80.95 and a 200-day moving average of $68.98.

Nuvalent (NASDAQ:NUVLGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Equities research analysts expect that Nuvalent, Inc. will post -2.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

NUVL has been the topic of a number of recent research reports. Leerink Partnrs raised Nuvalent from a “market perform” rating to an “outperform” rating in a research report on Monday. SVB Leerink raised Nuvalent from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $69.00 to $110.00 in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Nuvalent from $68.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Robert W. Baird assumed coverage on Nuvalent in a research report on Friday, February 23rd. They set an “outperform” rating and a $105.00 price target on the stock. Finally, BMO Capital Markets boosted their price target on Nuvalent from $93.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nuvalent currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

View Our Latest Stock Report on NUVL

Institutional Investors Weigh In On Nuvalent

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Nuvalent by 56.5% during the fourth quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after acquiring an additional 1,205,668 shares during the period. Perceptive Advisors LLC boosted its stake in shares of Nuvalent by 18.5% in the fourth quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock valued at $214,735,000 after buying an additional 454,540 shares during the period. BlackRock Inc. boosted its stake in shares of Nuvalent by 9.2% in the second quarter. BlackRock Inc. now owns 2,396,864 shares of the company’s stock valued at $101,076,000 after buying an additional 200,966 shares during the period. Finally, Commodore Capital LP boosted its stake in shares of Nuvalent by 60.6% in the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock valued at $97,951,000 after buying an additional 502,259 shares during the period. Institutional investors 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.

Further Reading

Insider Buying and Selling by Quarter for Nuvalent (NASDAQ:NUVL)

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