Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Nuvalent Inc shares valued at $3,244,140 were sold by Pelish Henry E. on Sep 16 ’24. At $98.92 per share, Pelish Henry E. sold 32,795 shares. The insider’s holdings dropped to 33,300 shares worth approximately $3.44 million following the completion of this transaction.
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Also, Miller Deborah Ann sold 8,000 shares, netting a total of over 771,798 in proceeds. Following the sale of shares at $96.47 each, the insider now holds 33,300 shares.
Before that, Miller Deborah Ann had sold 3,000 shares from its account. In a trade valued at $264,546, the Chief Legal Officer traded Nuvalent Inc shares for $88.18 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $3.44 million.
As published in their initiating research note from Barclays on August 29, 2024, Nuvalent Inc [NUVL] has been an Overweight and the price target has been revised to $100. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of April 01, 2024, Leerink Partners has increased its “Market perform” rating to a “an Outperform” for NUVL.
Analyzing NUVL Stock Performance
During the last five days, there has been a surge of approximately 26.41%. Over the course of the year, Nuvalent Inc shares have jumped approximately 40.30%. Shares of the company reached a 52-week high of $113.51 on 09/16/24 and a 52-week low of $61.79 on 04/19/24. A 50-day SMA is recorded $81.61, while a 200-day SMA reached $76.58. Nevertheless, trading volume fell to 0.98 million shares from 2.46 million shares the previous day.
Support And Resistance Levels for Nuvalent Inc (NUVL)
According to the 24-hour chart, there is a support level at 101.25, which, if violated, would cause prices to drop to 99.26. In the upper region, resistance lies at 106.61. The next price resistance is at 109.98. RSI (Relative Strength Index) is 66.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 12.20, which suggests the price will increase in the coming days. Percent R is at 31.37%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
