In a recent SEC filing, Nuvalent, Inc. (NASDAQ:NUVL), a $5.56 billion market cap biotech company, disclosed that its Chief Scientific Officer, Henry E. Pelish, executed several transactions involving the company’s Class A Common Stock on January 6, 2025. According to InvestingPro data, analysts have set price targets ranging from $100 to $137 for the stock.
Pelish acquired 18,750 shares through restricted stock units at no cost. Additionally, he exercised stock options to acquire 37,500 shares, also at no cost.
Moreover, Pelish sold a total of 2,483 shares in three separate transactions, generating proceeds of approximately $197,853. The shares were sold at prices ranging from $78.28 to $80.54 per share. These sales were executed under a pre-arranged Rule 10b5-1 trading plan to cover tax obligations related to the vesting of previous equity awards.
Following these transactions, Pelish holds 59,981 shares of Nuvalent stock directly.
In other recent news, Nuvalent has seen significant developments in its ongoing clinical trials and corporate structure. H.C. Wainwright initiated coverage on Nuvalent with a Buy rating and a price target of $110, while BMO Capital Markets maintained an Outperform rating and raised its price target to $134. On the other hand, UBS initiated coverage with a Neutral rating, suggesting the current stock price already reflects the near-term opportunity in non-small cell lung cancer treatments.
Nuvalent recently appointed Grant Bogle as an independent director to its board, aligning with the company’s policies for board membership. The company’s lead drug candidates, zidesamtinib and NVL-655, are being evaluated for the treatment of ROS1-positive and ALK-positive non-small cell lung cancer, respectively, with pivotal data expected in 2025.
H.C. Wainwright’s analysis suggests that Nuvalent’s clinical candidates have the potential to significantly impact the treatment of ROS1-positive, ALK-positive, and HER2-positive non-small cell lung cancer. The firm projects that upon approval and launch of these drugs, Nuvalent could generate revenues of $205 million in 2026, growing to $4.5 billion by 2032. This positive outlook is based on strong initial data, de-risked targets, and significant market potential.
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