Paradis Paul, director & president at Sezzle, sells $472k in shares
CAMBRIDGE, MA—Noci Darlene, Chief Development Officer of Nuvalent , Inc. (NASDAQ:NUVL), a $5.26 billion market cap biotech company, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On March 27, Darlene sold a total of 4,000 shares of Class A Common Stock, with a price range between $72.91 and $73.83, amounting to approximately $292,468. According to InvestingPro data, the stock appears overvalued at current levels, with analysts maintaining a Strong Buy consensus.
In addition to the sales, Darlene acquired a total of 4,000 shares through option exercises, at prices ranging from $14.4 to $18.93. These transactions were conducted under a Rule 10b5-1 trading plan adopted on November 18, 2024. Following these transactions, Darlene’s direct ownership stands at 48,034 shares. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 20.96 and holds more cash than debt on its balance sheet. Get access to 8 more key ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, Nuvalent has been the focus of several analyst evaluations and strategic developments. UBS analyst David Dai upgraded Nuvalent’s stock to a Buy rating, maintaining a $100 price target, citing the company’s strong fundamentals and significant market opportunity with its non-small cell lung cancer (NSCLC) therapies. H.C. Wainwright also reaffirmed its Buy rating and set a $110 price target, highlighting the company’s recent implementation of Expanded Access Programs for its drugs zidesamtinib and neladalkib, which aim to address unmet needs in NSCLC treatment. Nuvalent’s strategic plans include the release of pivotal data from its Phase 1/2 ARROS-1 study in the first half of 2025, with a potential New Drug Application submission for zidesamtinib by mid-2025. The company’s management is in discussions with the FDA for a line-agnostic approval of zidesamtinib, supported by promising results from its ongoing trials. Additionally, Nuvalent plans to initiate a randomized Phase 3 study named ALKAZAR in 2025 to compare its drug NVL-655 to standard-of-care treatments. Analysts from H.C. Wainwright project that Nuvalent could generate significant revenues upon the approval and launch of its drugs, with potential growth to $4.5 billion by 2032. These developments underscore Nuvalent’s ongoing efforts to advance its clinical pipeline and expand treatment options for NSCLC patients.
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