Nuvalent Inc’s filing revealed that its Director Shair Matthew unloaded Company’s shares for reported $2.57 million on Apr 08 ’24. In the deal valued at $68.44 per share,37,500 shares were sold. As a result of this transaction, Shair Matthew now holds 1,612,198 shares worth roughly $105.62 million.
Then, Miller Deborah Ann sold 3,000 shares, generating $220,787 in total proceeds. Upon selling the shares at $73.60, the Chief Legal Officer now owns 33,300 shares.
Before that, Shair Matthew sold 37,500 shares. Nuvalent Inc shares valued at $2,884,337 were divested by the Director at a price of $76.92 per share. As a result of the transaction, Shair Matthew now holds 1,649,698 shares, worth roughly $108.07 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 -3.66% to $65.51. Over the last five days, the stock has lost -6.68%. Nuvalent Inc shares have fallen nearly -10.98% since the year began. Nevertheless, the stocks have risen 159.75% over the past one year. While a 52-week high of $89.39 was reached on 03/13/24, a 52-week low of $25.10 was recorded on 04/12/24. SMA at 50 days reached $79.71, while 200 days put it at $61.91. A total of 0.56 million shares were traded, compared to the trading of 0.47 million shares in the previous session.
Levels Of Support And Resistance For NUVL Stock
The 24-hour chart illustrates a support level at 64.50, which if violated will result in even more drops to 63.48. On the upside, there is a resistance level at 66.99. A further resistance level may holdings at 68.46. The Relative Strength Index (RSI) on the 14-day chart is 30.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.85%. Stochastics %K at 9.27% indicates the stock is a buying.
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.
