Nuvalent (NASDAQ:NUVL) Stock Price Down 12.3%

Nuvalent Inc (NASDAQ:NUVL)’s stock price dropped 12.3% during mid-day trading on Monday . The stock traded as low as $22.85 and last traded at $22.86. Approximately 6,426 shares changed hands during trading, a decline of 97% from the average daily volume of 241,730 shares. The stock had previously closed at $26.07.

NUVL has been the topic of several research reports. Cowen initiated coverage on shares of Nuvalent in a report on Monday, August 23rd. They set an “outperform” rating on the stock. Piper Sandler assumed coverage on shares of Nuvalent in a report on Monday, August 23rd. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Nuvalent in a research note on Monday, August 23rd. They issued an “overweight” rating and a $34.00 target price on the stock.

The business’s 50 day moving average price is $30.13.

Nuvalent (NASDAQ:NUVL) last posted its earnings results on Wednesday, September 8th. The company reported ($3.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($2.97). Equities research analysts expect that Nuvalent Inc will post -1.25 EPS for the current year.

Nuvalent Company Profile (NASDAQ:NUVL)

Nuvalent Inc is a biopharmaceutical company. It focused on creating precisely targeted therapies for clinically proven kinase targets in cancer. The company’s program pipeline includes ROS1-positive and ALK-positive NSCLC. Nuvalent Inc is based in CAMBRIDGE, Mass.

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