Nuvalent's (NUVL) Buy Rating Reaffirmed at HC Wainwright

Nuvalent (NASDAQ:NUVL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $110.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 50.81% from the company's previous close. HC Wainwright also issued estimates for Nuvalent's Q1 2025 earnings at ($1.21) EPS, Q2 2025 earnings at ($1.18) EPS, Q3 2025 earnings at ($1.15) EPS, Q4 2025 earnings at ($1.12) EPS, FY2025 earnings at ($4.66) EPS and FY2026 earnings at ($3.26) EPS.

Other research analysts have also recently issued research reports about the stock. Wedbush reiterated an "outperform" rating and set a $115.00 price objective on shares of Nuvalent in a research report on Monday, January 13th. BMO Capital Markets upped their price target on shares of Nuvalent from $132.00 to $134.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $113.10.

Nuvalent Stock Up 1.3 %

NUVL traded up $0.95 on Monday, hitting $72.94. The company had a trading volume of 447,800 shares, compared to its average volume of 454,682. The business's fifty day simple moving average is $79.68 and its 200 day simple moving average is $88.40. Nuvalent has a 12-month low of $61.80 and a 12-month high of $113.51. The company has a market cap of $5.18 billion, a PE ratio of -21.02 and a beta of 1.38.

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Nuvalent (NASDAQ:NUVL - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.02). On average, analysts anticipate that Nuvalent will post -3.86 earnings per share for the current fiscal year.

Insider Transactions at Nuvalent

In other news, CEO James Richard Porter sold 27,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was 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 owns 249,062 shares of the company's stock, valued at approximately $18,926,221.38. This represents a 9.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Shair sold 2,000 shares of Nuvalent stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $78.43, for a total value of $156,860.00. Following the completion of the sale, the director now owns 216,522 shares of the company's stock, valued at $16,981,820.46. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,800 shares of company stock valued at $8,895,004. 12.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvalent

Several institutional investors have recently bought and sold shares of NUVL. Boxer Capital Management LLC bought a new stake in Nuvalent during the 4th quarter valued at $87,689,000. FMR LLC grew its stake in Nuvalent by 8.9% in the third quarter. FMR LLC now owns 9,654,352 shares of the company's stock valued at $987,640,000 after purchasing an additional 786,257 shares during the last quarter. Vestal Point Capital LP purchased a new position in Nuvalent in the fourth quarter valued at about $46,968,000. Polar Capital Holdings Plc raised its holdings in Nuvalent by 161.2% in the fourth quarter. Polar Capital Holdings Plc now owns 946,723 shares of the company's stock worth $74,109,000 after purchasing an additional 584,223 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Nuvalent by 65.5% during the third quarter. Wellington Management Group LLP now owns 1,011,837 shares of the company's stock valued at $103,511,000 after buying an additional 400,402 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.