Nuvalent (NUVL) Projected to Post Earnings on Tuesday

Nuvalent (NASDAQ:NUVL - Get Free Report) will likely be releasing its earnings data on Tuesday, February 25th. Analysts expect Nuvalent to post earnings of ($1.03) per share for the quarter.

Nuvalent Stock Down 3.5 %

Shares of NUVL stock traded down $2.90 during trading hours on Friday, hitting $79.49. 331,419 shares of the company's stock traded hands, compared to its average volume of 471,133. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of -22.91 and a beta of 1.38. The stock's fifty day simple moving average is $81.31 and its two-hundred day simple moving average is $88.06. Nuvalent has a 12-month low of $61.79 and a 12-month high of $113.51.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. HC Wainwright reissued a "buy" rating and issued a $110.00 target price on shares of Nuvalent in a report on Friday, January 17th. 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 note on Wednesday, November 13th. Wedbush restated an "outperform" rating and set a $115.00 price objective on shares of Nuvalent in a research note on Monday, January 13th. Finally, UBS Group started coverage on shares of Nuvalent in a report on Thursday, October 24th. They issued a "neutral" rating and a $100.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nuvalent presently has a consensus rating of "Moderate Buy" and an average target price of $112.36.

Insider Buying and Selling

In other news, Director Matthew Shair sold 2,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $96.22, for a total transaction of $192,440.00. Following the transaction, the director now directly owns 222,522 shares of the company's stock, valued at $21,411,066.84. This represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Richard Porter sold 27,000 shares of Nuvalent stock in a transaction on Monday, December 16th. The stock was sold at an average price of $86.61, for a total value of $2,338,470.00. Following the completion of the sale, the chief executive officer now directly owns 188,113 shares of the company's stock, valued at $16,292,466.93. The trade was a 12.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,800 shares of company stock worth $8,930,584. 12.52% of the stock is owned by insiders.

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.