Jump Financial LLC Boosts Stock Position in Nuvalent, Inc. (NASDAQ:NUVL)

Jump Financial LLC boosted its holdings in Nuvalent, Inc. (NASDAQ:NUVL - Free Report) by 17.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,948 shares of the company's stock after purchasing an additional 5,163 shares during the quarter. Jump Financial LLC's holdings in Nuvalent were worth $2,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in shares of Nuvalent in the 4th quarter valued at approximately $27,000. US Bancorp DE bought a new stake in shares of Nuvalent during the 4th quarter valued at approximately $90,000. KBC Group NV grew its holdings in shares of Nuvalent by 61.1% during the 4th quarter. KBC Group NV now owns 1,587 shares of the company's stock valued at $124,000 after purchasing an additional 602 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Nuvalent by 13.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company's stock valued at $205,000 after purchasing an additional 309 shares during the last quarter. Finally, Diametric Capital LP bought a new stake in shares of Nuvalent during the 4th quarter valued at approximately $212,000. Institutional investors and hedge funds own 97.26% of the company's stock.

Insider Activity at Nuvalent

In other Nuvalent news, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $82.79, for a total transaction of $165,580.00. Following the completion of the transaction, the director now owns 218,522 shares in the company, valued at approximately $18,091,436.38. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.46, for a total value of $2,118,420.00. Following the transaction, the chief executive officer now owns 249,062 shares of the company's stock, valued at $19,541,404.52. This trade represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,000 shares of company stock valued at $6,350,730 in the last three months. Corporate insiders own 12.52% of the company's stock.

Analyst Ratings Changes

NUVL has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $110.00 price target on shares of Nuvalent in a report on Monday, March 3rd. UBS Group raised shares of Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Friday, March 14th. Finally, Wedbush reissued an "outperform" rating and set a $115.00 target price on shares of Nuvalent in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $115.50.

Nuvalent Stock Performance

Shares of NUVL stock traded up $1.31 during mid-day trading on Wednesday, hitting $72.70. The company's stock had a trading volume of 51,878 shares, compared to its average volume of 473,474. The company's fifty day simple moving average is $72.35 and its 200-day simple moving average is $83.00. Nuvalent, Inc. has a 52 week low of $55.54 and a 52 week high of $113.51. The company has a market cap of $5.21 billion, a PE ratio of -20.95 and a beta of 1.43.

Nuvalent (NASDAQ:NUVL - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.02). On average, equities analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current year.

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.