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In a recent series of transactions, Matthew Shair, a director at Nuvalent , Inc. (NASDAQ:NUVL), a $6.08 billion market cap company, sold a total of 2,000 shares of Class A Common Stock. The sales, executed on January 27, 2025, were conducted under a pre-established Rule 10b5-1 trading plan. The shares were sold at prices ranging from $82.24 to $85.00 per share, amounting to a total value of approximately $165,575. The stock currently trades at $85.52, with analysts setting price targets between $100 and $137. According to InvestingPro, the company maintains strong financial flexibility with a current ratio of 23.07.
Following these transactions, Shair retains ownership of 218,522 shares indirectly through the Matthew D. Shair 2021 Irrevocable Family Trust, which he controls. Additionally, Shair holds 1,427,197 shares directly. For comprehensive insider trading analysis and 8 additional key insights about NUVL, visit InvestingPro.
In other recent news, Nuvalent has been making significant strides in its ongoing clinical trials and corporate structure. H.C. Wainwright reaffirmed its Buy rating on Nuvalent, maintaining a $110.00 price target, following the company’s presentation of its anticipated milestones for 2025. The company aims to secure FDA approval for its ROS1-targeting tyrosine kinase inhibitor, zidesamtinib, by 2026 and plans to submit a New Drug Application in mid-2025.
On the other hand, BMO Capital Markets maintained an Outperform rating on Nuvalent and raised its price target to $134, while UBS initiated coverage with a Neutral rating. These ratings reflect various analysts’ views on the company’s performance and future prospects.
In addition to these developments, Nuvalent recently appointed Grant Bogle as an independent director to its board, aligning with the company’s established policies for board membership. Nuvalent’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. Both studies are expected to produce pivotal data in 2025.
These are among the recent developments that have been shaping the trajectory of Nuvalent. The company’s progress in its clinical trials and the positive outlook from various analysts suggest a promising future for its stock performance.
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