Kennedy Capital Management LLC Buys 640 Shares of Nuvalent, Inc. (NASDAQ:NUVL)

Kennedy Capital Management LLC increased its position in Nuvalent, Inc. (NASDAQ:NUVL) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,240 shares of the company’s stock after purchasing an additional 640 shares during the period. Kennedy Capital Management LLC’s holdings in Nuvalent were worth $410,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Nuvalent during the 4th quarter valued at $712,000. Legal & General Group Plc boosted its position in shares of Nuvalent by 13.5% during the fourth quarter. Legal & General Group Plc now owns 40,387 shares of the company’s stock valued at $3,161,000 after buying an additional 4,794 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Nuvalent in the 4th quarter worth about $699,000. Wells Fargo & Company MN raised its position in Nuvalent by 32.4% in the 4th quarter. Wells Fargo & Company MN now owns 21,220 shares of the company’s stock worth $1,661,000 after buying an additional 5,195 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Nuvalent during the 4th quarter valued at about $3,999,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $82.79, for a total value of $165,580.00. Following the transaction, the director now directly owns 218,522 shares in the company, valued at $18,091,436.38. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.46, for a total value of $2,118,420.00. Following the completion of the transaction, the chief executive officer now directly owns 249,062 shares of the company’s stock, valued at approximately $19,541,404.52. This trade represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,000 shares of company stock worth $4,489,350 in the last three months. Company insiders own 12.52% of the company’s stock.

Nuvalent Stock Up 1.1 %

Shares of NUVL opened at $70.78 on Wednesday. Nuvalent, Inc. has a 52 week low of $55.54 and a 52 week high of $113.51. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of -20.40 and a beta of 1.43. The business has a 50-day simple moving average of $73.54 and a two-hundred day simple moving average of $84.13.

Nuvalent (NASDAQ:NUVL) last released its earnings results on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). On average, equities analysts anticipate that Nuvalent, Inc. will post -3.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NUVL has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $110.00 price target on shares of Nuvalent in a research note on Monday, March 3rd. UBS Group raised shares of Nuvalent from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, March 14th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Nuvalent in a report on Monday, January 13th. One 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.44.

Nuvalent Profile

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.