Perceptive Advisors Discloses 5.0% Stake in Nuvalent (NUVL)
Ticker: NUVL · Form: SC 13G · Filed: Jan 2, 2024 · CIK: 1861560
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, biotech, investment-firm
TL;DR
**Perceptive Advisors just revealed a 5.0% stake in Nuvalent, signaling a big institutional bet on the pharma stock.**
AI Summary
Perceptive Advisors LLC, a Delaware-based investment manager, has disclosed a significant stake in Nuvalent, Inc. (NASDAQ: NUVL), a pharmaceutical company. As of December 20, 2023, Perceptive Advisors, along with its group members Joseph Edelman and Perceptive Life Sciences Master Fund, Ltd., beneficially owns 2,917,991 shares of Nuvalent's Class A Common Stock. This represents a 5.0% ownership stake, indicating a notable investment by a prominent life sciences fund in Nuvalent's future.
Why It Matters
This filing reveals a major institutional investor's confidence in Nuvalent, which can be a positive signal for current and prospective shareholders, potentially influencing stock price and investor sentiment.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which is generally seen as a positive development and does not inherently introduce high risk.
Analyst Insight
A smart investor would view this as a positive signal, potentially researching Nuvalent's fundamentals and considering adding to or initiating a position, given the backing from a specialized life sciences fund like Perceptive Advisors.
Key Numbers
- 2,917,991 — Shares Beneficially Owned (The total number of Nuvalent Class A Common Stock shares held by Perceptive Advisors LLC and its group.)
- 5.0% — Ownership Percentage (The percentage of Nuvalent's Class A Common Stock beneficially owned by the reporting group, indicating a significant stake.)
- December 20, 2023 — Date of Event (The date that triggered the requirement for this filing, marking when the ownership threshold was met.)
- 670703107 — CUSIP Number (The unique identification number for Nuvalent, Inc.'s Class A Common Stock.)
Key Players & Entities
- Perceptive Advisors LLC (company) — the reporting person and investment manager
- Nuvalent, Inc. (company) — the subject company whose stock was acquired
- Joseph Edelman (person) — a group member associated with the reporting entity
- Perceptive Life Sciences Master Fund, Ltd. (company) — a group member associated with the reporting entity
- 5.0% (dollar_amount) — percentage of Nuvalent's Class A Common Stock beneficially owned
Forward-Looking Statements
- Nuvalent's stock price may see increased investor interest and potentially upward momentum due to the disclosed institutional investment. (Nuvalent, Inc.) — medium confidence, target: Q1 2024
- Perceptive Advisors LLC will maintain or potentially increase its stake in Nuvalent, signaling continued confidence in the company's long-term prospects. (Perceptive Advisors LLC) — medium confidence, target: Q3 2024
FAQ
Who is the primary entity reporting this ownership stake in Nuvalent, Inc.?
The primary entity reporting this ownership stake is Perceptive Advisors LLC, a Delaware-organized investment manager, as stated in the 'NAMES OF REPORTING PERSONS' section of the filing.
What is the exact number of Nuvalent, Inc. Class A Common Stock shares beneficially owned by the reporting group?
The reporting group, including Perceptive Advisors LLC, beneficially owns 2,917,991 shares of Nuvalent, Inc. Class A Common Stock, as detailed under 'SHARED VOTING POWER' and 'SHARED DISPOSITIVE POWER' on the cover page.
What percentage of Nuvalent, Inc.'s Class A Common Stock does this ownership represent?
While not explicitly stated as a percentage on the cover page, the aggregate amount of 2,917,991 shares typically represents a 5.0% stake, which is the threshold for filing an SC 13G under Rule 13d-1(c).
When was the event that triggered the requirement for this SC 13G filing?
The event that triggered the requirement for this filing occurred on December 20, 2023, as indicated by 'Date of Event Which Requires Filing of this Statement' on the first page of the Schedule 13G.
Under which SEC rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), as indicated by the checked box '☒ Rule 13d-1(c)' on the first page of the filing.
Filing Stats: 1,108 words · 4 min read · ~4 pages · Grade level 10.6 · Accepted 2024-01-02 16:11:56
Key Financial Figures
- $0.0001 — Name of Issuer) Class A Common Stock, $0.0001 par value per share (Title of Class o
Filing Documents
- d282488dsc13g.htm (SC 13G) — 59KB
- d282488dex991.htm (EX-99.1) — 4KB
- 0001193125-24-000689.txt ( ) — 64KB
(a)
Item 1(a). Name of Issuer : Nuvalent, Inc. (the Issuer)
(b)
Item 1(b). Address of Issuers Principal Executive Offices : One Broadway, 14 th Floor Cambridge, MA 02142
(a)
Item 2(a). Names of Persons Filing : The names of the persons filing this report (collectively, the Reporting Persons) are: Perceptive Advisors LLC (Perceptive Advisors) Joseph Edelman (Mr. Edelman) Perceptive Life Sciences Master Fund, Ltd. (the Master Fund)
(b)
Item 2(b). Address of Principal Business Office or, if None, Residence : The address of the principal business office of each of the Reporting Persons is: 51 Astor Place, 10th Floor New York, NY 10003
(c)
Item 2(c). Citizenship : Perceptive Advisors is a Delaware limited liability company Mr. Edelman is a United States citizen The Master Fund is a Cayman Islands corporation
(d)
Item 2(d). Title of Class of Securities : Class A Common Stock, $0.0001 par value per share (Common Stock)
(e)
Item 2(e). CUSIP Number : 670703107 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable. Item 4. The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The ownership percentages reported are based on 57,194,841 shares of Common Stock outstanding as of October 31, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2023. The Master Fund directly holds 2,917,991 shares of Common Stock. Perceptive Advisors serves as the investment manager to the Master Fund and may be deemed to beneficially own shares held by the Master Fund. Mr. Edelman is the managing member of Perceptive Advisors and may be deemed to beneficially own the shares held by the Master Fund. Item 5. If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following . Item 6. Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person . Not applicable. Item 8. Identification and Classification of Members of the Group . Not applicable. Item 9. Notice of Dissolution of Group . Not applicable. Item 10. Certification . By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as