Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $112.40.
A number of research firms have recently commented on NUVL. Stifel Nicolaus raised their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Lifesci Capital upgraded shares of Nuvalent to a "strong-buy" rating in a research report on Monday, July 29th. Barclays began coverage on shares of Nuvalent in a research report on Thursday, August 29th. They issued an "overweight" rating and a $100.00 price objective for the company. Guggenheim lifted their target price on shares of Nuvalent from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group upgraded shares of Nuvalent to a "strong sell" rating in a research report on Monday, September 16th.
Get Our Latest Analysis on NUVL
In other Nuvalent news, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $91.73, for a total transaction of $183,460.00. Following the transaction, the director now directly owns 224,522 shares of the company's stock, valued at approximately $20,595,403.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Deborah Ann Miller sold 3,000 shares of Nuvalent stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $68.78, for a total value of $206,340.00. Following the transaction, the insider now directly owns 33,300 shares of the company's stock, valued at $2,290,374. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Shair sold 2,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $91.73, for a total transaction of $183,460.00. Following the transaction, the director now directly owns 224,522 shares in the company, valued at approximately $20,595,403.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,115,629 shares of company stock valued at $206,494,948. 12.52% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in NUVL. Quest Partners LLC bought a new position in Nuvalent in the 2nd quarter worth $44,000. Amalgamated Bank raised 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 purchasing an additional 198 shares in the last quarter. SG Americas Securities LLC bought a new position in Nuvalent in the 1st quarter worth $121,000. Allspring Global Investments Holdings LLC raised its holdings in Nuvalent by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company's stock worth $168,000 after purchasing an additional 189 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in Nuvalent in the 1st quarter worth $202,000. 97.26% of the stock is currently owned by institutional investors.
NUVL opened at $89.22 on Friday. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -32.09 and a beta of 1.29. The firm has a 50-day moving average price of $95.89 and a 200-day moving average price of $81.25. Nuvalent has a twelve month low of $54.37 and a twelve month high of $113.51.
Nuvalent (NASDAQ:NUVL - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.12). During the same quarter in the prior year, the company posted ($0.51) EPS. On average, sell-side analysts expect that Nuvalent will post -3.52 earnings per share for the current fiscal year.
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.
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