AQR Capital Management LLC Has $1.01 Million Stock Holdings in Nuvalent, Inc. (NASDAQ:NUVL)

AQR Capital Management LLC cut its holdings in shares of Nuvalent, Inc. (NASDAQ:NUVL) by 39.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,364 shares of the company’s stock after selling 8,783 shares during the quarter. AQR Capital Management LLC’s holdings in Nuvalent were worth $1,014,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NUVL. Darwin Global Management Ltd. lifted its position in shares of Nuvalent by 2,390.5% in the first quarter. Darwin Global Management Ltd. now owns 1,436,964 shares of the company’s stock valued at $107,902,000 after buying an additional 1,379,266 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nuvalent by 56.5% during the 4th quarter. Vanguard Group Inc. now owns 3,339,850 shares of the company’s stock worth $245,780,000 after acquiring an additional 1,205,668 shares during the last quarter. Perceptive Advisors LLC increased its position in Nuvalent by 18.5% in the 4th quarter. Perceptive Advisors LLC now owns 2,917,991 shares of the company’s stock valued at $214,735,000 after acquiring an additional 454,540 shares during the period. Samlyn Capital LLC bought a new position in Nuvalent during the 2nd quarter worth $17,397,000. Finally, Logos Global Management LP bought a new position in Nuvalent during the 2nd quarter worth approximately $14,793,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wedbush lifted their price objective on shares of Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, September 16th. BMO Capital Markets boosted their price target on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Barclays began coverage on shares of Nuvalent in a report on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price target on the stock. Lifesci Capital upgraded shares of Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Guggenheim increased their price objective on Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.78.

Nuvalent Trading Up 1.1 %

NASDAQ NUVL opened at $103.59 on Friday. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of -42.98 and a beta of 1.29. The stock has a 50-day moving average of $89.09 and a 200 day moving average of $78.64. Nuvalent, Inc. has a twelve month low of $49.02 and a twelve month high of $113.51.

Nuvalent (NASDAQ:NUVL) last announced its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same quarter last year, the business earned ($0.51) earnings per share. Equities analysts predict that Nuvalent, Inc. will post -3.52 EPS for the current fiscal year.

Insider Activity

In other Nuvalent news, Director Emily Conley sold 5,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $80.72, for a total transaction of $403,600.00. Following the completion of the sale, the director now owns 2,507 shares of the company’s stock, valued at $202,365.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nuvalent news, Director Emily Conley sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $80.72, for a total value of $403,600.00. Following the completion of the transaction, the director now owns 2,507 shares of the company’s stock, valued at $202,365.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Shair sold 2,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $79.59, for a total value of $159,180.00. Following the sale, the director now owns 230,522 shares in the company, valued at approximately $18,347,245.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,629 shares of company stock valued at $9,793,908. 12.52% of the stock is currently owned by insiders.

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.