Nuvalent’s (NASDAQ:NUVL) director and owner of more than 10% NUVL shares, James E. Flynn, made an additional purchase of 650,000 shares on November 3 for a total consideration of $21,775,000.
Nuvalent is a 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. The company recently announced positive data for its NVL-520 lung cancer treatment.
Growing Insider Interest in Nuvalent Stock
On November 3, the company’s director Andrew A. F. Hack, also bought 149,253 Nuvalent shares for an aggregate amount of $4,999,976. Hack is a Managing Director of Bain Capital Life Sciences, a private equity fund that invests in biopharmaceutical, specialty pharmaceutical, medical device, and diagnostics companies.
Overall, corporate insiders have bought NUVL shares worth $26.8 million over the last three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in Nuvalent stock is currently Positive.
Interestingly, TipRanks’ Insider Trading Activity Tool also provides a comprehensive list of daily insider transactions as well as a list of top corporate insiders.
Is NUVL a Good Stock to Buy?
On TipRanks, NUVL stock has a Moderate Buy consensus rating based on two Buys. The average Nuvalent price target of $46 implies 48.1% upside potential.
