1 day Ago By ABMN Staff
American Century Companies Inc. purchased a new position in Nuvalent, Inc. ( NASDAQ:NUVL – Free Report ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.
The fund purchased 186,385 shares of the company’s stock, valued at approximately $14,590,000. American Century Companies Inc. owned about 0.
26% of Nuvalent as of its most recent filing with the Securities and Exchange Commission. Several other institutional investors also recently added to or reduced their stakes in NUVL. US Bancorp DE purchased a new position in Nuvalent in the fourth quarter valued at about $90,000.
KBC Group NV lifted its stake in Nuvalent by 61.1% in the fourth quarter. KBC Group NV now owns 1,587 shares of the company’s stock valued at $124,000 after purchasing an additional 602 shares during the last quarter.
Commonwealth Equity Services LLC lifted its stake in Nuvalent by 13.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock valued at $205,000 after purchasing an additional 309 shares during the last quarter.
Cibc World Markets Corp bought a new position in Nuvalent during the fourth quarter valued at $257,000. Finally, E Fund Management Co. Ltd.
increased its position in Nuvalent by 53.0% in the fourth quarter. E Fund Management Co.
Ltd. now owns 4,213 shares of the company’s stock worth $330,000 after buying an additional 1,460 shares during the last quarter. Institutional investors own 97.
26% of the company’s stock. Analyst Upgrades and Downgrades Several research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $115.
00 price target on shares of Nuvalent in a research note on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price objective on shares of Nuvalent in a report on Monday, March 3rd.
Finally, UBS Group upgraded shares of Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock.
According to data from MarketBeat.com, Nuvalent presently has an average rating of “Moderate Buy” and a consensus target price of $113.44.
Nuvalent Price Performance Shares of NASDAQ:NUVL opened at $68.00 on Wednesday. The company has a market cap of $4.
87 billion, a price-to-earnings ratio of -19.60 and a beta of 1.42.
Nuvalent, Inc. has a one year low of $61.80 and a one year high of $113.
51. The firm has a fifty day moving average price of $78.23 and a two-hundred day moving average price of $87.
06. Nuvalent ( NASDAQ:NUVL – Get Free Report ) last posted its earnings results on Thursday, February 27th. The company reported ($1.
05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02).
Equities research analysts expect that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.
Insider Transactions at Nuvalent In related news, CEO James Richard Porter sold 17,301 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $79.68, for a total value of $1,378,543.
68. Following the completion of the transaction, the chief executive officer now directly owns 249,062 shares in the company, valued at approximately $19,845,260.16.
The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website .
Also, insider Henry E. Pelish sold 2,483 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.
68, for a total value of $197,845.44. Following the sale, the insider now owns 59,981 shares in the company, valued at $4,779,286.
08. The trade was a 3.98 % decrease in their position.
The disclosure for this sale can be found here . Over the last 90 days, insiders sold 108,800 shares of company stock valued at $8,437,464. 12.
52% of the stock is owned by corporate insiders. Nuvalent Company Profile ( 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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