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 $183,468 were sold by Shair Matthew on Oct 28 ’24. At $91.73 per share, Shair Matthew sold 2,000 shares. The insider’s holdings dropped to 224,522 shares worth approximately $19.87 million following the completion of this transaction.
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Also, Flynn James E sold 2,000,000 shares, netting a total of over 195,500,000 in proceeds. Following the sale of shares at $97.75 each, the insider now holds 8,670,512 shares.
Before that, Deerfield Healthcare Innovatio had added 1,000,000 shares to its account. In a trade valued at $101,160,000, the Stockholder bought Nuvalent Inc shares for $101.16 each.
As published in their initiating research note from UBS on October 24, 2024, Nuvalent Inc [NUVL] has been a Neutral and the price target has been revised to $100. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in late August. As of April 17, 2024, Jefferies has initiated its “Buy” rating for NUVL. Earlier on April 01, 2024, Leerink Partners upgraded its rating. Their new recommendation was “an Outperform” for NUVL stock which previously was a “a Market perform”.
Analyzing NUVL Stock Performance
During the last five days, there has been a drop of approximately -5.49%. Over the course of the year, Nuvalent Inc shares have jumped approximately 20.25%. 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 $95.77, while a 200-day SMA reached $80.61. Nevertheless, trading volume fell to 0.81 million shares from 0.47 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 86.97, which, if violated, would cause prices to drop to 85.46. In the upper region, resistance lies at 90.57. The next price resistance is at 92.65. RSI (Relative Strength Index) is 35.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.29, which suggests the price will decrease in the coming days. Percent R is at 94.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
