Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) Director James E. Flynn sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $97.75, for a total transaction of $195,500,000.00. Following the transaction, the director now directly owns 8,670,512 shares in the company, valued at $847,542,548. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Nuvalent Stock Down 0.1 %
Shares of NUVL opened at $93.63 on Friday. The stock has a market cap of $6.07 billion, a PE ratio of -33.68 and a beta of 1.29. Nuvalent, Inc. has a 12-month low of $49.02 and a 12-month high of $113.51. The business has a 50-day simple moving average of $94.52 and a two-hundred day simple moving average of $80.29.
Nuvalent (NASDAQ:NUVL – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same quarter last year, the company posted ($0.51) EPS. On average, equities research analysts expect that Nuvalent, Inc. will post -3.52 EPS for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of equities analysts have commented on NUVL shares. UBS Group initiated coverage on Nuvalent in a research note on Thursday. They set a “neutral” rating and a $100.00 price objective on the stock. Wedbush boosted their price target on Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Stifel Nicolaus boosted their target price on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a report on Monday, July 29th. Finally, BMO Capital Markets lifted their price objective on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $112.40.
Check Out Our Latest Report on Nuvalent
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.
Recommended Stories
- Five stocks we like better than Nuvalent
- How to Start Investing in Real Estate
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- Basic Materials Stocks Investing
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for Nuvalent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvalent and related companies with MarketBeat.com's FREE daily email newsletter.