At the time of writing, Nuvalent Inc [NUVL] stock is trading at $70.65, up 2.57%. An important factor to consider is whether the stock is rising or falling in short-term value. The NUVL shares have gain 5.13% over the last week, with a monthly amount drifted -3.77%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Nuvalent Inc [NASDAQ: NUVL] stock has seen the most recent analyst activity on April 17, 2024, when Jefferies initiated its Buy rating and assigned the stock a price target of $97. Previously, Leerink Partners upgraded its rating to Outperform on April 01, 2024, and elevated its price target to $110. Robert W. Baird started tracking the stock assigning a Outperform rating and suggested a price target of $105 on February 23, 2024. Stifel initiated its recommendation with a Buy and recommended $65 as its price target on September 27, 2023. SVB Securities started tracking with a Market Perform rating for this stock on August 08, 2023, and assigned it a price target of $42. In a note dated July 24, 2023, Guggenheim initiated an Buy rating and provided a target price of $56 on this stock.
For the past year, the stock price of Nuvalent Inc fluctuated between $35.29 and $89.39. Currently, Wall Street analysts expect the stock to reach $103.5 within the next 12 months. Nuvalent Inc [NASDAQ: NUVL] shares were valued at $70.65 at the most recent close of the market. An investor can expect a potential return of 46.5% based on the average NUVL price forecast.
Analyzing the NUVL fundamentals
To continue investigating profitability, this company’s Return on Assets is posted at -0.17, Equity is -0.25 and Total Capital is -0.21.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 68.42 points at the first support level, and at 66.18 for the second support level. However, for the 1st resistance point, the stock is sitting at 72.54, and for the 2nd resistance point, it is at 74.42.
Ratios To Look Out For
It is important to note that Nuvalent Inc [NASDAQ:NUVL] has a current ratio of 22.83. On the other hand, the Quick Ratio is 22.83, and the Cash Ratio is 10.54.
Transactions by insiders
Recent insider trading involved Shair Matthew, Director, that happened on Apr 29 ’24 when 37500.0 shares were sold. Director, Shair Matthew completed a deal on Apr 29 ’24 to sell 2000.0 shares. Meanwhile, Director Shair Matthew sold 37500.0 shares on Apr 22 ’24.
