Nuvalent, Inc. (NASDAQ:NUVL – Get Rating) insider Darlene Noci sold 4,200 shares of Nuvalent stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $18.14, for a total transaction of $76,188.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Darlene Noci also recently made the following trade(s):

• On Wednesday, August 24th, Darlene Noci sold 1,604 shares of Nuvalent stock. The shares were sold at an average price of $17.03, for a total transaction of $27,316.12.
• On Friday, July 15th, Darlene Noci sold 3,782 shares of Nuvalent stock. The shares were sold at an average price of $17.29, for a total transaction of $65,390.78.
• On Monday, July 18th, Darlene Noci sold 100 shares of Nuvalent stock. The shares were sold at an average price of $17.07, for a total transaction of $1,707.00.
• On Thursday, July 7th, Darlene Noci sold 16,800 shares of Nuvalent stock. The shares were sold at an average price of $17.61, for a total transaction of $295,848.00.

Nuvalent Price Performance

NASDAQ:NUVL opened at $17.68 on Friday. Nuvalent, Inc. has a 1-year low of $7.09 and a 1-year high of $38.17. The firm has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $13.33.

Hedge Funds Weigh In On Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in Nuvalent by 72.0% during the first quarter. Strs Ohio now owns 4,300 shares of the company's stock worth $59,000 after purchasing an additional 1,800 shares during the period. California State Teachers Retirement System boosted its position in Nuvalent by 35.0% during the first quarter. California State Teachers Retirement System now owns 7,811 shares of the company's stock worth $108,000 after purchasing an additional 2,024 shares during the period. American International Group Inc. boosted its position in Nuvalent by 59.8% during the first quarter. American International Group Inc. now owns 9,098 shares of the company's stock worth $126,000 after purchasing an additional 3,406 shares during the period. New York State Common Retirement Fund boosted its position in Nuvalent by 65.6% during the first quarter. New York State Common Retirement Fund now owns 12,922 shares of the company's stock worth $179,000 after purchasing an additional 5,120 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Nuvalent by 196.6% during the first quarter. MetLife Investment Management LLC now owns 12,959 shares of the company's stock worth $180,000 after purchasing an additional 8,590 shares during the period. 95.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets began coverage on shares of Nuvalent in a research note on Thursday, June 23rd. They issued an "outperform" rating and a $28.00 target price for the company.

Nuvalent Company Profile

(Get Rating)

Nuvalent, Inc, a clinical stage biopharmaceutical company, develops 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; and 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 I/II clinical trial.

Further Reading

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