Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nuvalent Inc shares valued at $205,500 were sold by Shair Matthew on Sep 23 ’24. At $102.75 per share, Shair Matthew sold 2,000 shares. The insider’s holdings dropped to 226,522 shares worth approximately $22.89 million following the completion of this transaction.
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Also, Pelish Henry E. sold 32,795 shares, netting a total of over 3,244,140 in proceeds. Following the sale of shares at $98.92 each, the insider now holds 33,300 shares.
Before that, Miller Deborah Ann had sold 8,000 shares from its account. In a trade valued at $771,798, the Chief Legal Officer traded Nuvalent Inc shares for $96.47 each. Upon closing the transaction, the insider’s holdings decreased to 8,000 shares, worth approximately $3.36 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 drop of approximately -2.13%. Over the course of the year, Nuvalent Inc shares have jumped approximately 37.31%. 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 $83.81, while a 200-day SMA reached $77.42. Nevertheless, trading volume fell to 0.76 million shares from 0.52 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 99.89, which, if violated, would cause prices to drop to 98.74. In the upper region, resistance lies at 102.81. The next price resistance is at 104.58. RSI (Relative Strength Index) is 60.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.28, which suggests the price will increase in the coming days. Percent R is at 38.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
