NUVL

Baird Initiates Coverage of Nuvalent (NUVL) with Outperform Recommendation

Fintel reports that on February 23, 2024, Baird initiated coverage of Nuvalent (NasdaqGS:NUVL) with a Outperform recommendation.

Analyst Price Forecast Suggests 1.55% Downside

As of January 19, 2024, the average one-year price target for Nuvalent is 81.94. The forecasts range from a low of 68.68 to a high of $105.00. The average price target represents a decrease of 1.55% from its latest reported closing price of 83.23.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Nuvalent is 0MM. The projected annual non-GAAP EPS is -2.17.

What is the Fund Sentiment?

There are 370 funds or institutions reporting positions in Nuvalent. This is an increase of 70 owner(s) or 23.33% in the last quarter. Average portfolio weight of all funds dedicated to NUVL is 0.44%, an increase of 29.56%. Total shares owned by institutions increased in the last three months by 14.64% to 65,987K shares. NUVL / Nuvalent, Inc. Put/Call Ratios The put/call ratio of NUVL is 0.67, indicating a bullish outlook.

What are Other Shareholders Doing?

NUVL / Nuvalent, Inc. Shares Held by Institutions

Deerfield Management Company, L.p. holds 19,991K shares representing 31.92% ownership of the company. No change in the last quarter.

Paradigm Biocapital Advisors holds 3,858K shares representing 6.16% ownership of the company. In it's prior filing, the firm reported owning 1,638K shares, representing an increase of 57.54%. The firm increased its portfolio allocation in NUVL by 160.11% over the last quarter.

Bain Capital Life Sciences Investors holds 3,577K shares representing 5.71% ownership of the company. No change in the last quarter.

Perceptive Advisors holds 2,918K shares representing 4.66% ownership of the company. In it's prior filing, the firm reported owning 2,463K shares, representing an increase of 15.58%. The firm increased its portfolio allocation in NUVL by 26.83% over the last quarter.

Fairmount Funds Management holds 1,925K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 2,452K shares, representing a decrease of 27.39%. The firm increased its portfolio allocation in NUVL by 10.36% over the last quarter.

Nuvalent Background Information
(This description is provided by the company.)

Nuvalent, Inc. is a preclinical stage biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, designed to overcome the limitations of existing therapies for clinically proven kinase targets. Leveraging deep expertise in chemistry and structure-based drug design, Nuvalent develops innovative small molecules that have the potential to overcome resistance, minimize adverse events, address brain metastases, and drive more durable responses. Nuvalent is advancing a robust pipeline with parallel lead programs in ROS1-positive and ALK-positive NSCLC, along with multiple discovery-stage research programs.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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