The stock price of Nuvalent Inc (NASDAQ: NUVL) has plunged by -6.69 when compared to previous closing price of 102.51, but the company has seen a -8.74% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-09-23 that Nuvalent’s lead candidates, NVL-520 and NVL-655, show promising efficacy and safety in Phase 1/2 trials. Both drugs have received FDA Breakthrough Therapy and orphan drug designations, with pivotal Phase 2 data expected in 2025 and potential approvals by 2026. The company completed a $500 million secondary offering, reflecting strong investor interest and providing the cash runway through Phase 3.
Is It Worth Investing in Nuvalent Inc (NASDAQ: NUVL) Right Now?
NUVL has 36-month beta value of 1.29. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 6 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for NUVL is 38.66M, and currently, short sellers hold a 14.42% ratio of that float. The average trading volume of NUVL on October 23, 2024 was 449.13K shares.
NUVL’s Market Performance
NUVL’s stock has seen a -8.74% decrease for the week, with a -5.58% drop in the past month and a 19.64% gain in the past quarter. The volatility ratio for the week is 3.21%, and the volatility levels for the past 30 days are at 3.39% for Nuvalent Inc The simple moving average for the last 20 days is -6.51% for NUVL stock, with a simple moving average of 19.41% for the last 200 days.
Analysts’ Opinion of NUVL
Many brokerage firms have already submitted their reports for NUVL stocks, with Barclays repeating the rating for NUVL by listing it as a “Overweight.” The predicted price for NUVL in the upcoming period, according to Barclays is $100 based on the research report published on August 29, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see NUVL reach a price target of $97. The rating they have provided for NUVL stocks is “Buy” according to the report published on April 17th, 2024.
Leerink Partners gave a rating of “Outperform” to NUVL, setting the target price at $110 in the report published on April 01st of the current year.
NUVL Trading at 1.95% from the 50-Day Moving Average
After a stumble in the market that brought NUVL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.73% of loss for the given period.
Volatility was left at 3.39%, however, over the last 30 days, the volatility rate increased by 3.21%, as shares sank -4.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +34.02% upper at present.
During the last 5 trading sessions, NUVL fell by -8.65%, which changed the moving average for the period of 200-days by +31.52% in comparison to the 20-day moving average, which settled at $102.32. In addition, Nuvalent Inc saw 29.98% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NUVL starting from Deerfield Healthcare Innovatio, who proposed sale 1,000,000 shares at the price of $101.16 back on Oct 22 ’24. After this action, Deerfield Healthcare Innovatio now owns shares of Nuvalent Inc, valued at $101,160,000 using the latest closing price.
Deerfield Private Design Fund, the Stockholder of Nuvalent Inc, proposed sale 1,000,000 shares at $101.16 during a trade that took place back on Oct 22 ’24, which means that Deerfield Private Design Fund is holding shares at $101,160,000 based on the most recent closing price.
Stock Fundamentals for NUVL
The total capital return value is set at -0.32. Equity return is now at value -32.81, with -31.08 for asset returns.
Currently, EBITDA for the company is -149.49 million with net debt to EBITDA at 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 17.44.
Conclusion
To put it simply, Nuvalent Inc (NUVL) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
