Nuvalent Inc’s recent filing unveils that its Director Shair Matthew unloaded Company’s shares for reported $2.46 million on Apr 15 ’24. In the deal valued at $65.56 per share,37,500 shares were sold. As a result of this transaction, Shair Matthew now holds 1,574,698 shares worth roughly $ 98.83 million.
Then, Conley Emily sold 5,000 shares, generating $327,607 in total proceeds. Upon selling the shares at $65.52, the Director now owns 8 shares.
Before that, Shair Matthew sold 37,500 shares. Nuvalent Inc shares valued at $2,566,479 were divested by the Director at a price of $68.44 per share. As a result of the transaction, Shair Matthew now holds 1,612,198 shares, worth roughly $101.18 million.
Jefferies initiated its Nuvalent Inc [NUVL] rating to a Buy in a research note published on April 17, 2024; the price target was $97. A number of analysts have revised their coverage, including Leerink Partners’s analysts, who increased its forecast for the stock in early April from “a Market perform” to “an Outperform”. Robert W. Baird started covering the stock on February 23, 2024. It rated NUVL as “an Outperform”.
Price Performance Review of NUVL
On Friday, Nuvalent Inc [NASDAQ:NUVL] saw its stock fall -0.48% to $62.76. Over the last five days, the stock has lost -4.20%. Nuvalent Inc shares have fallen nearly -14.72% since the year began. Nevertheless, the stocks have risen 90.07% over the past one year. While a 52-week high of $89.39 was reached on 03/13/24, a 52-week low of $31.09 was recorded on 04/19/24. SMA at 50 days reached $78.30, while 200 days put it at $62.46. A total of 1.25 million shares were traded, compared to the trading of 0.62 million shares in the previous session.
Levels Of Support And Resistance For NUVL Stock
The 24-hour chart illustrates a support level at 61.47, which if violated will result in even more drops to 60.17. On the upside, there is a resistance level at 64.38. A further resistance level may holdings at 66.00. The Relative Strength Index (RSI) on the 14-day chart is 26.95, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.15%. Stochastics %K at 4.79% indicates the stock is a buying.
The most recent change occurred on September 27, 2023 when Stifel began covering the stock and recommended ‘”a Buy”‘ rating along with a $65 price target.
