Nuvalent, Inc. (NASDAQ:NUVL – Get Rating) Director Matthew Shair sold 13,151 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $18.36, for a total value of $241,452.36. Following the transaction, the director now owns 2,149,447 shares in the company, valued at $39,463,846.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Matthew Shair also recently made the following trade(s):
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- On Friday, July 15th, Matthew Shair sold 2,000 shares of Nuvalent stock. The shares were sold at an average price of $18.29, for a total value of $36,580.00.
- On Wednesday, July 13th, Matthew Shair sold 100 shares of Nuvalent stock. The shares were sold at an average price of $18.25, for a total value of $1,825.00.
Nuvalent Stock Performance
NUVL stock traded down $0.27 during trading on Friday, hitting $17.68. 541,332 shares of the company traded hands, compared to its average volume of 170,768. The firm has a market capitalization of $854.19 million, a PE ratio of -11.87 and a beta of 1.12. Nuvalent, Inc. has a 1 year low of $7.09 and a 1 year high of $38.17. The company has a 50-day moving average of $16.58 and a 200-day moving average of $13.33.
Nuvalent (NASDAQ:NUVL – Get Rating) last issued its earnings results on Wednesday, August 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.05. Sell-side analysts expect that Nuvalent, Inc. will post -1.73 EPS for the current year.
Institutional Investors Weigh In On Nuvalent
Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio lifted its stake in shares of Nuvalent by 72.0% in the 1st quarter. Strs Ohio now owns 4,300 shares of the company's stock valued at $59,000 after purchasing an additional 1,800 shares during the period. California State Teachers Retirement System increased its holdings in shares of Nuvalent by 35.0% in the 1st 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 in the last quarter. American International Group Inc. increased its holdings in shares of Nuvalent by 59.8% in the 1st 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 in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Nuvalent by 65.6% in the 1st 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 in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Nuvalent by 196.6% in the first quarter. MetLife Investment Management LLC now owns 12,959 shares of the company's stock worth $180,000 after acquiring an additional 8,590 shares during the period. Hedge funds and other institutional investors own 95.07% of the company's stock.
Wall Street Analyst Weigh In
Separately, BMO Capital Markets initiated coverage on Nuvalent in a research report on Thursday, June 23rd. They set an "outperform" rating and a $28.00 price objective on the stock.
About Nuvalent
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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.
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