2 weeks Ago By ABMN Staff
Summit Investment Advisors Inc. increased its stake in Nuvalent, Inc. ( NASDAQ:NUVL – Free Report ) by 4.
8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,676 shares of the company’s stock after purchasing an additional 167 shares during the quarter. Summit Investment Advisors Inc.
’s holdings in Nuvalent were worth $288,000 at the end of the most recent quarter. Other institutional investors and hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc.
bought a new position in shares of Nuvalent in the fourth quarter worth about $27,000. US Bancorp DE purchased a new position in Nuvalent during the fourth quarter valued at approximately $90,000. KBC Group NV boosted its position in shares of Nuvalent by 61.
1% in the fourth quarter. KBC Group NV now owns 1,587 shares of the company’s stock worth $124,000 after purchasing an additional 602 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Nuvalent by 13.
4% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock worth $205,000 after purchasing an additional 309 shares in the last quarter. Finally, Diametric Capital LP purchased a new position in shares of Nuvalent during the 4th quarter valued at $212,000.
97.26% of the stock is currently owned by hedge funds and other institutional investors. Analysts Set New Price Targets A number of equities research analysts have commented on the company.
HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Nuvalent in a report on Monday, March 3rd. Wedbush reissued an “outperform” rating and issued a $115.
00 price target on shares of Nuvalent in a report on Monday, January 13th. Finally, UBS Group upgraded shares of Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Friday, March 14th.
One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.
Insider Activity at Nuvalent In other news, Director Matthew Shair sold 2,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $82.79, for a total value of $165,580.
00. Following the sale, the director now directly owns 218,522 shares in the company, valued at approximately $18,091,436.38.
This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website .
Also, CEO James Richard Porter sold 27,000 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $68.94, for a total value of $1,861,380.
00. Following the completion of the transaction, the chief executive officer now directly owns 249,062 shares in the company, valued at $17,170,334.28.
This trade represents a 9.78 % decrease in their position. The disclosure for this sale can be found here .
In the last ninety days, insiders have sold 85,000 shares of company stock worth $6,350,730. Insiders own 12.52% of the company’s stock.
Nuvalent Trading Up 2.4 % Shares of NASDAQ:NUVL opened at $71.64 on Monday.
The company has a 50-day moving average price of $72.77 and a 200 day moving average price of $83.33.
Nuvalent, Inc. has a 12 month low of $55.54 and a 12 month high of $113.
51. The company has a market cap of $5.13 billion, a price-to-earnings ratio of -20.
65 and a beta of 1.43. Nuvalent ( NASDAQ:NUVL – Get Free Report ) last released its quarterly earnings results 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). As a group, equities analysts forecast that Nuvalent, Inc. will post -3.
86 EPS for the current year. About Nuvalent ( Free Report ) 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.
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