Analysts Set Nuvalent, Inc. (NASDAQ:NUVL) Target Price at $112.36

Shares of Nuvalent, Inc. (NASDAQ:NUVL) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $112.36.

Several equities analysts have commented on NUVL shares. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective on shares of Nuvalent in a report on Friday, January 17th. UBS Group assumed coverage on Nuvalent in a report on Thursday, October 24th. They set a “neutral” rating and a $100.00 target price on the stock. Finally, BMO Capital Markets upped 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.

Nuvalent Price Performance

Shares of Nuvalent stock opened at $81.24 on Monday. Nuvalent has a 1-year low of $61.79 and a 1-year high of $113.51. The business’s fifty day moving average price is $83.00 and its two-hundred day moving average price is $87.98. The company has a market capitalization of $5.77 billion, a P/E ratio of -23.41 and a beta of 1.38.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35). During the same quarter last year, the company posted ($0.59) EPS. On average, research analysts expect that Nuvalent will post -3.86 earnings per share for the current fiscal year.

Insider Activity

In other Nuvalent news, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 249,062 shares in the company, valued at approximately $18,926,221.38. The trade was a 9.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $96.22, for a total transaction of $192,440.00. Following the sale, the director now directly owns 222,522 shares in the company, valued at approximately $21,411,066.84. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,800 shares of company stock worth $6,812,164. Insiders own 12.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its stake in Nuvalent by 13.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock valued at $205,000 after buying an additional 309 shares during the period. HighVista Strategies LLC grew its holdings in shares of Nuvalent by 1.1% during the 3rd quarter. HighVista Strategies LLC now owns 29,018 shares of the company’s stock valued at $2,969,000 after acquiring an additional 320 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Nuvalent in the fourth quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Nuvalent by 1.3% during the fourth quarter. Alliancebernstein L.P. now owns 39,620 shares of the company’s stock worth $3,101,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors 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.