Nuvation Bio (NYSE:NUVB) Director Acquires $118,250.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) Director Robert Mashal purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the purchase, the director directly owned 225,000 shares in the company, valued at $1,064,250. The trade was a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nuvation Bio Trading Up 3.0%

NYSE:NUVB opened at $4.91 on Friday. The stock’s 50 day moving average price is $4.73 and its 200 day moving average price is $5.88. The company has a market capitalization of $1.71 billion, a PE ratio of -11.41 and a beta of 1.52. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 52-week low of $1.57 and a 52-week high of $9.75.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. On average, research analysts anticipate that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on NUVB shares. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Nuvation Bio currently has an average rating of “Moderate Buy” and an average price target of $12.50.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Nuvation Bio by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock worth $139,378,000 after acquiring an additional 101,011 shares during the period. Millennium Management LLC lifted its holdings 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 buying an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Nuvation Bio by 19.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock valued at $12,276,000 after buying an additional 551,508 shares during the period. Aisling Capital Management LP lifted its holdings in shares of Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after buying an additional 419,650 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 2,424,109 shares during the period. 61.67% of the stock is owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

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.