Fintel reports that on October 5, 2023, BMO Capital maintained coverage of Nuvalent Inc - (NASDAQ:NUVL) with a Outperform recommendation.
Analyst Price Forecast Suggests 12.25% Downside
As of October 5, 2023, the average one-year price target for Nuvalent Inc - is 54.74. The forecasts range from a low of 42.42 to a high of $68.25. The average price target represents a decrease of 12.25% from its latest reported closing price of 62.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nuvalent Inc - is 0MM. The projected annual non-GAAP EPS is -2.07.
What is the Fund Sentiment?
There are 289 funds or institutions reporting positions in Nuvalent Inc -. This is an increase of 30 owner(s) or 11.58% in the last quarter. Average portfolio weight of all funds dedicated to NUVL is 0.32%, an increase of 26.11%. Total shares owned by institutions increased in the last three months by 1.66% to 56,999K shares. 
The put/call ratio of NUVL is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Deerfield Management Company, L.p. holds 19,991K shares representing 35.06% ownership of the company. No change in the last quarter.
Bain Capital Life Sciences Investors holds 3,577K shares representing 6.27% ownership of the company. No change in the last quarter.
Fairmount Funds Management holds 2,884K shares representing 5.06% ownership of the company. No change in the last quarter.
Perceptive Advisors holds 2,195K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 2,300K shares, representing a decrease of 4.79%. The firm increased its portfolio allocation in NUVL by 51.21% over the last quarter.
Wellington Management Group Llp holds 1,736K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,887K shares, representing a decrease of 8.65%. The firm increased its portfolio allocation in NUVL by 41.96% over the last quarter.
Nuvalent Background Information
(This description is provided by the company.)
Nuvalent, Inc. is a preclinical stage biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, designed to overcome the limitations of existing therapies for clinically proven kinase targets. Leveraging deep expertise in chemistry and structure-based drug design, Nuvalent develops innovative small molecules that have the potential to overcome resistance, minimize adverse events, address brain metastases, and drive more durable responses. Nuvalent is advancing a robust pipeline with parallel lead programs in ROS1-positive and ALK-positive NSCLC, along with multiple discovery-stage research programs.
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This story originally appeared on Fintel.
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