Advantage Alpha Capital Partners LP Buys Shares of 4,851 Nuvalent, Inc. (NASDAQ:NUVL)

Advantage Alpha Capital Partners LP purchased a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,851 shares of the company’s stock, valued at approximately $496,000.

Other large investors have also made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in Nuvalent during the second quarter worth $1,191,000. Vanguard Group Inc. raised its holdings in shares of Nuvalent by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,412,072 shares of the company’s stock worth $256,212,000 after buying an additional 72,222 shares in the last quarter. First Turn Management LLC lifted its position in shares of Nuvalent by 42.3% during the 3rd quarter. First Turn Management LLC now owns 359,114 shares of the company’s stock worth $36,737,000 after buying an additional 106,838 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Nuvalent by 80.5% in the second quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock valued at $26,409,000 after buying an additional 155,276 shares in the last quarter. Finally, Samlyn Capital LLC bought a new position in Nuvalent in the second quarter valued at about $17,397,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Price Performance

Shares of NASDAQ NUVL opened at $96.30 on Wednesday. The firm has a fifty day simple moving average of $97.47 and a 200 day simple moving average of $84.23. Nuvalent, Inc. has a twelve month low of $61.01 and a twelve month high of $113.51.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35). During the same quarter in the prior year, the business earned ($0.59) earnings per share. As a group, research analysts anticipate that Nuvalent, Inc. will post -3.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NUVL shares. Barclays began coverage on shares of Nuvalent in a report on Thursday, August 29th. They set an “overweight” rating and a $100.00 price target on the stock. The Goldman Sachs Group upgraded shares of Nuvalent to a “strong sell” rating in a report on Monday, September 16th. Guggenheim raised their price objective on Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a report on Monday, September 16th. BMO Capital Markets upped their target price on Nuvalent from $132.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Nuvalent in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.60.

Insider Buying and Selling at Nuvalent

In other Nuvalent news, Director Matthew Shair sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $102.75, for a total value of $205,500.00. Following the completion of the sale, the director now owns 226,522 shares of the company’s stock, valued at approximately $23,275,135.50. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $102.28, for a total value of $2,761,560.00. Following the transaction, the chief executive officer now directly owns 188,113 shares in the company, valued at $19,240,197.64. The trade was a 12.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,106,795 shares of company stock valued at $205,834,791. Corporate insiders own 12.52% of the company’s stock.

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.