Virtu Financial LLC Has $250,000 Stock Holdings in Nuvalent, Inc. (NASDAQ:NUVL)

Virtu Financial LLC lowered its holdings in Nuvalent, Inc. (NASDAQ:NUVL) by 56.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,200 shares of the company’s stock after selling 4,217 shares during the period. Virtu Financial LLC’s holdings in Nuvalent were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in shares of Nuvalent in the third quarter worth $796,000. Charles Schwab Investment Management Inc. grew its position in Nuvalent by 19.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,827 shares of the company’s stock worth $32,309,000 after purchasing an additional 50,536 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Nuvalent by 14.9% during the 3rd quarter. Citigroup Inc. now owns 94,534 shares of the company’s stock worth $9,671,000 after purchasing an additional 12,256 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Nuvalent by 100.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 45,705 shares of the company’s stock worth $4,676,000 after purchasing an additional 22,910 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Nuvalent by 6.7% during the third quarter. MetLife Investment Management LLC now owns 19,737 shares of the company’s stock valued at $2,019,000 after buying an additional 1,231 shares during the last quarter. 97.26% of the stock is owned by institutional investors.

Nuvalent Trading Down 0.8 %

NASDAQ:NUVL opened at $73.05 on Friday. The stock has a market capitalization of $5.23 billion, a P/E ratio of -21.05 and a beta of 1.42. Nuvalent, Inc. has a 1 year low of $61.80 and a 1 year high of $113.51. The firm has a 50 day moving average of $78.54 and a 200-day moving average of $87.27.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). As a group, analysts forecast that Nuvalent, Inc. will post -3.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alexandra Balcom sold 4,016 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $79.68, for a total transaction of $319,994.88. Following the transaction, the chief financial officer now directly owns 61,734 shares in the company, valued at approximately $4,918,965.12. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Richard Porter sold 17,301 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $79.68, for a total transaction of $1,378,543.68. Following the sale, the chief executive officer now directly owns 249,062 shares in the company, valued at $19,845,260.16. This trade represents a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,800 shares of company stock worth $8,437,464 in the last 90 days. Corporate insiders own 12.52% of the company’s stock.

Wall Street Analysts Forecast Growth

NUVL has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Nuvalent in a research report on Monday, January 13th. UBS Group upgraded 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 reiterated a “buy” rating and set a $110.00 price target on shares of Nuvalent in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.10.

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.