Nuvalent Inc Cl A Up 2.81% To $58.50 After Earnings Miss

Nuvalent Inc Cl A (NUVL) said before open Tuesday that it lost $0.59 per share in quarter three 2023. The company reported $0.00 in revenue

In the same quarter a year ago, the company lost $0.41 per share on revenue of $0.00.

The stock is up 2.81% to $58.50 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Nuvalent Inc Cl A a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 69. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Nuvalent Inc 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.