Nuvalent Inc (NASDAQ:NUVL) shares are trading lower by 6.56% to $104.81 during Tuesday's session after the company priced a $500 million upsized public offering of 5 million common shares at $100 per share.

Nuvalent says the offering is expected to close on September 18, pending the satisfaction of customary closing conditions. Gross proceeds of approximately $500 million are expected for the company, before expenses.

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Additionally, the underwriters have been granted a 30-day option to purchase up to 750,000 additional shares of Class A common stock at the same public offering price, minus underwriting discounts and commissions.

J.P. Morgan, TD Cowen, Jefferies and Stifel are acting as joint book-running managers for the offering.

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Should I Sell My NUVL Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Nuvalent have increased by 138.18% in the past year. An investor who bought shares of Nuvalent at the beginning of the year would make a profit of $28.82 per share if they sold it today. The stock has risen 40.12% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital gain of $31.76.

Nuvalent shares have an all-time high of $112.17, representing 6.91% upside from current levels.

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According to data from Benzinga Pro, NUVL has a 52-week high of $113.51 and a 52-week low of $39.93.