Nuvalent, Inc. (NASDAQ:NUVL) Insider Deborah Ann Miller Sells 2,000 Shares

Nuvalent, Inc. (NASDAQ:NUVL) insider Deborah Ann Miller sold 2,000 shares of Nuvalent stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $47.64, for a total transaction of $95,280.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, July 17th, Deborah Ann Miller sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $43.06, for a total transaction of $86,120.00.

Nuvalent Price Performance

NUVL stock traded down $0.43 during midday trading on Tuesday, hitting $44.05. The stock had a trading volume of 462,463 shares, compared to its average volume of 277,257. The business has a 50-day moving average of $44.86 and a two-hundred day moving average of $38.96. Nuvalent, Inc. has a 52-week low of $15.56 and a 52-week high of $50.58.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.04. Research analysts expect that Nuvalent, Inc. will post -2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Nuvalent by 13.0% during the first quarter. JPMorgan Chase & Co. now owns 442,575 shares of the company’s stock valued at $6,147,000 after buying an additional 50,930 shares during the last quarter. Bank of New York Mellon Corp increased its position in Nuvalent by 57.8% during the first quarter. Bank of New York Mellon Corp now owns 45,656 shares of the company’s stock valued at $634,000 after acquiring an additional 16,726 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Nuvalent by 196.6% during the first quarter. MetLife Investment Management LLC now owns 12,959 shares of the company’s stock valued at $180,000 after buying an additional 8,590 shares during the last quarter. Rhumbline Advisers bought a new position in Nuvalent in the 1st quarter valued at $211,000. Finally, BlackRock Inc. increased its stake in Nuvalent by 30.2% in the first quarter. BlackRock Inc. now owns 1,257,463 shares of the company’s stock worth $17,466,000 after purchasing an additional 291,821 shares during the period. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

NUVL has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $53.00 price target on shares of Nuvalent in a research report on Monday, September 11th. Guggenheim began coverage on Nuvalent in a report on Monday, July 24th. They set a “buy” rating and a $56.00 target price for the company. Leerink Partnrs reissued a “market perform” rating on shares of Nuvalent in a research report on Tuesday, August 8th. SVB Securities assumed coverage on shares of Nuvalent in a report on Tuesday, August 8th. They issued a “market perform” rating and a $42.00 price objective for the company. Finally, SVB Leerink assumed coverage on shares of Nuvalent in a research note on Tuesday, August 8th. They set a “market perform” rating and a $42.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.60.

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 brain-penetrant ROS1-selective inhibitor to inhibit ROS1 fusions that express the normal ROS1 kinase domain without any drug-resistant mutations and remain active in the presence of mutations conferring resistance to approved and investigational ROS1 inhibitors, which is under Phase I development; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, central nervous system-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under Phase ½ 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 ongoing IND-enabling studies.