Nuvalent (NUVL) to Release Quarterly Earnings on Tuesday

Nuvalent (NASDAQ:NUVL) is projected to post its quarterly earnings results on Tuesday, February 25th. Analysts expect Nuvalent to post earnings of ($1.03) per share for the quarter.

Nuvalent Stock Performance

Shares of NUVL opened at $79.49 on Monday. Nuvalent has a 52 week low of $61.79 and a 52 week high of $113.51. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of -22.91 and a beta of 1.38. The stock has a fifty day moving average of $81.31 and a 200-day moving average of $88.33.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NUVL shares. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Nuvalent in a research report on Friday, January 17th. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a research report on Monday, January 13th. Finally, BMO Capital Markets raised their target price on Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.10.

Insiders Place Their Bets

In other Nuvalent news, CFO Alexandra Balcom sold 4,016 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $79.68, for a total transaction of $319,994.88. Following the completion of the sale, the chief financial officer now directly owns 61,734 shares in the company, valued at approximately $4,918,965.12. This trade represents a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Henry E. Pelish sold 2,483 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $79.68, for a total value of $197,845.44. Following the sale, the insider now owns 59,981 shares of the company’s stock, valued at approximately $4,779,286.08. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,800 shares of company stock worth $8,738,144. Company insiders own 12.52% 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.