Nuvation Bio (NYSE:NUVB) Insider Sells $904,000.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 200,000 shares of Nuvation Bio stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $4.52, for a total value of $904,000.00. Following the completion of the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at $239,560. This represents a 79.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock traded up $0.01 during trading on Wednesday, reaching $4.52. The company’s stock had a trading volume of 3,394,150 shares, compared to its average volume of 5,220,173. The stock has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $5.77. The company has a current ratio of 6.95, a quick ratio of 6.81 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a one year low of $1.57 and a one year high of $9.75. The stock has a market capitalization of $1.57 billion, a P/E ratio of -7.54 and a beta of 1.60.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%.The business had revenue of $41.87 million during the quarter, compared to analysts’ expectations of $36.82 million. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently modified their holdings of NUVB. Price T Rowe Associates Inc. MD grew its position in shares of Nuvation Bio by 852.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock valued at $24,270,000 after purchasing an additional 2,424,109 shares during the period. Armistice Capital LLC grew its position in shares of Nuvation Bio by 359.2% in the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after purchasing an additional 1,796,000 shares during the period. Capricorn Fund Managers Ltd acquired a new position in shares of Nuvation Bio in the 4th quarter valued at approximately $14,236,000. Millennium Management LLC grew its position in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares during the period. Finally, SymBiosis Capital Partners LLC acquired a new position in shares of Nuvation Bio in the 4th quarter valued at approximately $11,200,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on NUVB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a report on Thursday, January 22nd. Royal Bank Of Canada boosted their price objective on Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Thursday, April 2nd. HC Wainwright dropped their price objective on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, January 12th. Finally, UBS Group decreased their target price on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.63.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.