Nuvalent (NASDAQ:NUVL) PT Raised to $125.00

Nuvalent (NASDAQ:NUVL) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $100.00 to $125.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 19.13% from the company’s previous close.

A number of other research firms also recently commented on NUVL. Barclays began coverage on Nuvalent in a research note on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price target for the company. Guggenheim upped their price target on shares of Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wedbush boosted their price objective on shares of Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. BMO Capital Markets upped their target price on Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group raised Nuvalent to a “strong sell” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.78.

Nuvalent Stock Up 1.4 %

Shares of NASDAQ:NUVL opened at $104.93 on Friday. Nuvalent has a 12-month low of $49.02 and a 12-month high of $113.51. The company’s 50 day moving average price is $86.56 and its two-hundred day moving average price is $77.79. The firm has a market cap of $6.77 billion, a PE ratio of -43.54 and a beta of 1.29.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period last year, the business earned ($0.51) earnings per share. On average, research analysts expect that Nuvalent will post -3.55 EPS for the current year.

Insider Buying and Selling at Nuvalent

In other news, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $102.75, for a total transaction of $205,500.00. Following the sale, the director now directly owns 226,522 shares in the company, valued at approximately $23,275,135.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 226,522 shares of the company’s stock, valued at approximately $23,275,135.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deborah Ann Miller sold 3,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $68.78, for a total transaction of $206,340.00. Following the completion of the sale, the insider now directly owns 33,300 shares in the company, valued at approximately $2,290,374. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,629 shares of company stock worth $10,494,558. 12.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuvalent

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its holdings in Nuvalent by 20.8% in the third quarter. Handelsbanken Fonder AB now owns 9,300 shares of the company’s stock valued at $951,000 after acquiring an additional 1,600 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Nuvalent by 120.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,385 shares of the company’s stock worth $755,000 after purchasing an additional 4,029 shares during the period. Algert Global LLC bought a new stake in shares of Nuvalent in the 2nd quarter valued at $224,000. Driehaus Capital Management LLC increased its position in shares of Nuvalent by 3.5% during the second quarter. Driehaus Capital Management LLC now owns 696,607 shares of the company’s stock worth $52,845,000 after buying an additional 23,730 shares during the period. Finally, Affinity Asset Advisors LLC raised its stake in Nuvalent by 33.3% during the second quarter. Affinity Asset Advisors LLC now owns 200,000 shares of the company’s stock worth $15,172,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

About Nuvalent

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.