CAMBRIDGE, MA—Noci Darlene, Chief Development Officer at Nuvalent, Inc. (NASDAQ:NUVL), a $5.56 billion market cap biotech company, reported a significant transaction involving the company’s Class A Common Stock. According to the latest filing, Darlene sold 4,016 shares of the stock in multiple transactions on January 6, 2025, fetching a total of $320,009. Sales prices ranged from $78.28 to $80.54 per share, with analysts placing price targets between $100 and $137. InvestingPro’s analysis shows that the stock is currently very popular, with more details available in the extensive Profile Research Report.
These transactions are conducted under the Rule 10b5-1 system, which is designed to cover the withholding obligations associated with the grant of prior equity awards. Following this sale, Darlene retains ownership of 48,034 shares. According to InvestingPro data, Nuvalent maintains a strong financial position with more cash than debt and a current special ratio of 23.07.
Additionally, Darlene received 18,750 shares of restricted stock units, exercisable in equal installments over three years beginning January 6, 2025, and exercised 37,500 stock options. This acquisition did not come at a cost as part of his compensation. While the company currently displays an overall financial health score of FAIR, InvestingPro subscribers can access 8 other key insights about Nuvalent’s financial outlook and performance metrics.
In other recent news, Nuvalent has seen significant progress in its clinical programs and business structure. HC Wainwright initiated coverage on Nuvalent with a Buy rating, pending approval of Nuvalent’s drug candidates in 2026 and 2027. The company also projects that Nuvalent could generate revenue of $205 million by 2026, growing to $4.5 billion by 2032. BMO Capital Markets, meanwhile, maintained an Outperform rating on Nuvalent and raised its price target to $134, following the company’s achievement of all 2024 milestones. In contrast, UBS started coverage at an average rating, suggesting that the stock’s current price already indicates an imminent opportunity in the treatment of non-small cell lung cancer. Additionally, Nuvalent recently appointed Grant Bogle as an independent director to its board, in accordance with the company’s established board membership policies. This development underscores Nuvalent’s ongoing efforts in its clinical trials and corporate governance.
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