Nuvalent Inc’s recently made public that its Chief Legal Officer Miller Deborah Ann unloaded Company’s shares for reported $0.22 million on Apr 04 ’24. In the deal valued at $73.60 per share,3,000 shares were sold. As a result of this transaction, Miller Deborah Ann now holds 33,300 shares worth roughly $2.34 million.
Then, Shair Matthew sold 37,500 shares, generating $2,884,337 in total proceeds. Upon selling the shares at $76.92, the Director now owns 1,649,698 shares.
Before that, Miller Deborah Ann sold 22,000 shares. Nuvalent Inc shares valued at $1,654,311 were divested by the Chief Legal Officer at a price of $75.20 per share. As a result of the transaction, Miller Deborah Ann now holds 33,300 shares, worth roughly $2.34 million.
Leerink Partners upgraded its Nuvalent Inc [NUVL] rating to an Outperform from a a Market perform in a research note published on April 01, 2024; the price target was increased to $110 from $69. Robert W. Baird began covering NUVL with “an Outperform” recommendation on February 23, 2024. Stifel started covering the stock on September 27, 2023. It rated NUVL as “a Buy”.
Price Performance Review of NUVL
On Friday, Nuvalent Inc [NASDAQ:NUVL] saw its stock fall -2.36% to $70.20. Over the last five days, the stock has lost -6.51%. Nuvalent Inc shares have fallen nearly -4.61% since the year began. Nevertheless, the stocks have risen 191.65% over the past one year. While a 52-week high of $89.39 was reached on 03/13/24, a 52-week low of $23.09 was recorded on 01/08/24. SMA at 50 days reached $80.56, while 200 days put it at $61.28. A total of 0.89 million shares were traded, compared to the trading of 0.45 million shares in the previous session.
Levels Of Support And Resistance For NUVL Stock
The 24-hour chart illustrates a support level at 68.50, which if violated will result in even more drops to 66.79. On the upside, there is a resistance level at 72.57. A further resistance level may holdings at 74.93. The Relative Strength Index (RSI) on the 14-day chart is 33.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.36%. Stochastics %K at 8.39% indicates the stock is a buying.
How much short interest is there in Nuvalent Inc?
A steep rise in short interest was recorded in Nuvalent Inc stocks on Mar 15, 2024, growing by 0.5 million shares to a total of 7.05 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.55 million shares. There was a rise of 7.09%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 35.73% of the overall stock float, the days-to-cover ratio (short ratio) rose to 16.03.
The most recent change occurred on August 08, 2023 when SVB Securities began covering the stock and recommended ‘”a Market perform”‘ rating along with a $42 price target.
