Samlyn Capital LLC Makes New Investment in Nuvalent, Inc. (NASDAQ:NUVL)

Samlyn Capital LLC purchased a new position in shares of Nuvalent, Inc. (NASDAQ:NUVL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 229,325 shares of the company’s stock, valued at approximately $17,397,000. Samlyn Capital LLC owned about 0.36% of Nuvalent as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Logos Global Management LP bought a new position in Nuvalent during the 2nd quarter worth approximately $14,793,000. Public Employees Retirement Association of Colorado bought a new position in Nuvalent during the 2nd quarter worth approximately $218,000. Amalgamated Bank raised its holdings in Nuvalent by 21.8% during the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock worth $84,000 after purchasing an additional 198 shares during the last quarter. Edgestream Partners L.P. bought a new position in Nuvalent during the 2nd quarter worth approximately $1,191,000. Finally, Dimensional Fund Advisors LP raised its holdings in Nuvalent by 80.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 348,089 shares of the company’s stock worth $26,409,000 after purchasing an additional 155,276 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Nuvalent Trading Down 5.5 %

Shares of NUVL stock opened at $102.05 on Tuesday. The firm has a market capitalization of $6.59 billion, a PE ratio of -42.34 and a beta of 1.28. The firm has a fifty day simple moving average of $82.75 and a two-hundred day simple moving average of $76.55. Nuvalent, Inc. has a 12 month low of $41.16 and a 12 month high of $113.51.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period in the previous year, the firm earned ($0.51) EPS. On average, equities analysts predict that Nuvalent, Inc. will post -3.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on NUVL shares. Wedbush lifted their price objective on shares of Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Stifel Nicolaus lifted their price objective on shares of Nuvalent from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group upgraded shares of Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. Barclays started coverage on shares of Nuvalent in a research note on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. One research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.00.

Insiders Place Their Bets

In other Nuvalent news, insider Darlene Noci sold 5,000 shares of Nuvalent stock in a transaction on Monday, July 1st. The shares were sold at an average price of $75.54, for a total transaction of $377,700.00. Following the transaction, the insider now directly owns 33,300 shares of the company’s stock, valued at approximately $2,515,482. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Henry E. Pelish sold 32,795 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.92, for a total value of $3,244,081.40. Following the transaction, the insider now directly owns 33,300 shares of the company’s stock, valued at approximately $3,294,036. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darlene Noci sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $75.54, for a total transaction of $377,700.00. Following the completion of the transaction, the insider now directly owns 33,300 shares in the company, valued at $2,515,482. The disclosure for this sale can be found here. Insiders have sold 115,629 shares of company stock valued at $9,901,758 in the last three months. 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.