Insider Selling: Nuvalent, Inc. (NASDAQ:NUVL) CEO Sells 27,000 Shares of Stock

by · The Cerbat Gem

Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) CEO James Richard Porter sold 27,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $75.99, for a total transaction of $2,051,730.00. Following the sale, the chief executive officer now owns 249,062 shares of the company’s stock, valued at approximately $18,926,221.38. The trade was a 9.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

James Richard Porter also recently made the following trade(s):

  • On Monday, January 6th, James Richard Porter sold 17,301 shares of Nuvalent stock. The shares were sold at an average price of $79.68, for a total transaction of $1,378,543.68.
  • On Monday, December 16th, James Richard Porter sold 27,000 shares of Nuvalent stock. The stock was sold at an average price of $86.61, for a total transaction of $2,338,470.00.

Nuvalent Stock Down 0.2 %

Nuvalent stock traded down $0.15 during midday trading on Friday, hitting $75.84. The company’s stock had a trading volume of 504,511 shares, compared to its average volume of 561,346. Nuvalent, Inc. has a 12 month low of $61.79 and a 12 month high of $113.51. The stock’s 50-day moving average price is $86.74 and its 200-day moving average price is $87.15. The company has a market capitalization of $5.39 billion, a PE ratio of -21.86 and a beta of 1.38.

Nuvalent (NASDAQ:NUVL – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.35). During the same quarter last year, the business earned ($0.59) EPS. As a group, equities analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analyst Upgrades and Downgrades

NUVL has been the topic of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Nuvalent in a research report on Friday. UBS Group initiated coverage on Nuvalent in a research note on Thursday, October 24th. They issued a “neutral” rating and a $100.00 target price on the stock. BMO Capital Markets upped their price target on shares of Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a research note on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nuvalent has a consensus rating of “Moderate Buy” and a consensus price target of $112.36.

View Our Latest Research Report on Nuvalent

Institutional Investors Weigh In On Nuvalent

Several large investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in shares of Nuvalent during the second quarter valued at $44,000. Amalgamated Bank lifted its stake in Nuvalent by 21.8% during the second quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after buying an additional 198 shares in the last quarter. Portland Investment Counsel Inc. acquired a new position in shares of Nuvalent in the third quarter worth about $205,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Nuvalent by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,147 shares of the company’s stock worth $213,000 after acquiring an additional 382 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Nuvalent during the second quarter valued at approximately $218,000. 97.26% of the stock is owned by institutional investors.

Nuvalent Company Profile

(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.

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