Headlands Technologies LLC Buys Shares of 3,514 Nuvalent, Inc. (NASDAQ:NUVL)

Headlands Technologies LLC acquired a new stake in Nuvalent, Inc. (NASDAQ:NUVL) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,514 shares of the company’s stock, valued at approximately $275,000.

A number of other hedge funds also recently made changes to their positions in the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Nuvalent during the fourth quarter valued at about $27,000. US Bancorp DE bought a new stake in shares of Nuvalent in the 4th quarter valued at $90,000. KBC Group NV increased its position in shares of Nuvalent by 61.1% during the fourth quarter. KBC Group NV now owns 1,587 shares of the company’s stock worth $124,000 after buying an additional 602 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Nuvalent by 13.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,618 shares of the company’s stock worth $205,000 after acquiring an additional 309 shares in the last quarter. Finally, Diametric Capital LP bought a new stake in Nuvalent in the fourth quarter worth approximately $212,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $165,580.00. Following the completion of the sale, the director now owns 218,522 shares of the company’s stock, valued at approximately $18,091,436.38. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexandra Balcom sold 4,016 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $79.68, for a total transaction of $319,994.88. Following the completion of the sale, the chief financial officer now directly owns 61,734 shares in the company, valued at approximately $4,918,965.12. This trade represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,800 shares of company stock valued at $8,437,464 over the last 90 days. 12.52% of the stock is owned by insiders.

Nuvalent Stock Performance

NASDAQ NUVL opened at $65.74 on Friday. Nuvalent, Inc. has a 52-week low of $61.80 and a 52-week high of $113.51. The company has a 50-day simple moving average of $77.38 and a 200 day simple moving average of $86.50. The company has a market capitalization of $4.71 billion, a PE ratio of -18.95 and a beta of 1.42.

Nuvalent (NASDAQ:NUVL) last announced 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, analysts forecast that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NUVL. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of Nuvalent in a report on Monday, January 13th. UBS Group raised 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of Nuvalent in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.44.

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.