Deborah Ann Miller Sells 3,000 Shares of Nuvalent, Inc. (NASDAQ:NUVL) Stock

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $88.18, for a total transaction of $264,540.00. Following the completion of the transaction, the insider now directly owns 33,300 shares in the company, valued at approximately $2,936,394. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Deborah Ann Miller also recently made the following trade(s):

• On Thursday, August 8th, Deborah Ann Miller sold 3,000 shares of Nuvalent stock. The stock was sold at an average price of $68.78, for a total value of $206,340.00.
• On Friday, July 12th, Deborah Ann Miller sold 6,000 shares of Nuvalent stock. The shares were sold at an average price of $80.16, for a total value of $480,960.00.
• On Monday, July 8th, Deborah Ann Miller sold 3,000 shares of Nuvalent stock. The stock was sold at an average price of $73.23, for a total value of $219,690.00.

Nuvalent Price Performance

NUVL opened at $87.45 on Friday. The stock’s 50 day simple moving average is $79.27 and its 200 day simple moving average is $75.81. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -36.29 and a beta of 1.28. Nuvalent, Inc. has a 1 year low of $39.86 and a 1 year high of $89.89.

Nuvalent (NASDAQ:NUVL) last issued its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). During the same period in the previous year, the company posted ($0.51) EPS. As a group, sell-side analysts anticipate that Nuvalent, Inc. will post -3.55 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NUVL shares. Stifel Nicolaus lifted their target price on shares of Nuvalent from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Nuvalent from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Lifesci Capital upgraded Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. Barclays initiated coverage on Nuvalent in a research note on Thursday, August 29th. They set an “overweight” rating and a $100.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and set a $99.00 price objective on shares of Nuvalent in a research report on Monday, September 9th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $103.00.

Institutional Investors Weigh In On Nuvalent

A number of large investors have recently added to or reduced their stakes in NUVL. Quest Partners LLC purchased a new stake in shares of Nuvalent during the second quarter worth about $44,000. Amalgamated Bank lifted its holdings in Nuvalent by 21.8% in the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock worth $84,000 after buying an additional 198 shares during the period. SG Americas Securities LLC bought a new stake in shares of Nuvalent in the 1st quarter worth approximately $121,000. Allspring Global Investments Holdings LLC increased its stake in shares of Nuvalent by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock valued at $168,000 after buying an additional 189 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Nuvalent in the first quarter worth $202,000. 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.