10 Mid-Cap Stocks Insiders Are Selling Recently

7. Nuvalent, Inc. (NASDAQ:NUVL)

Number of Insiders Selling: 8

Market Capitalization: $6.16B

Nuvalent is a clinical-stage biopharmaceutical company focused on therapies for cancer. Its robust pipeline includes investigational candidates for ROS1-positive, ALK-positive, and HER2-altered non-small cell lung cancer, and multiple discovery-stage research programs. Since it went public in July 2021, Nuvalent shares gained 363.29%.

Over the last two months, eight insiders, including President and CEO, CFO, CMO, and CSO, sold around $116.92 million worth of Nuvalent shares at an average price of $80.53. Nuvalent’s shares are now trading at $85.53, having gained 9.26% year-to-date. Over the past 12 months, the stock went up 2.36%.

Data from Stock Analysis shows that the average rating from 11 analysts is “Strong Buy,” and the 12-month stock price expectation is $112.36.

Even though Nuvalent is one of the 10 mid-cap stocks insiders are selling recently, at the same time it is the first of Joseph Edelman’s top 10 Long-Term Stock Picks. Edelman is a very respected investor recognized for his expertise in biotechnology and healthcare investing. He is the founder, CEO, and portfolio manager of Perceptive Advisors.

While some insiders reduced their positions within Nuvalent recently, some hedge funds, like Perceptive Advisors, Woodline Partners and Driehaus Capital grew their holding in the third quarter of 2024.

What makes Nuvalent an interesting investment is its innovative drug pipeline and focus on precision oncology. The company’s leading drug candidates target cancers driven by ROS1 and ALK gene alterations.

According to the company’s report for the quarter ended September 30, 2023, cash equivalents and marketable securities amounted to $1.2 billion, compared to $732.38 million at the end of 2023.