Nuvation Bio (NYSE:NUVB) CFO Sells 47,668 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB) CFO Philippe Sauvage sold 47,668 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the sale, the chief financial officer owned 12,673 shares in the company, valued at $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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

Nuvation Bio stock traded up $0.48 during midday trading on Wednesday, reaching $6.52. 9,424,487 shares of the stock traded hands, compared to its average volume of 4,353,571. The stock’s fifty day moving average is $4.91 and its 200-day moving average is $5.74. Nuvation Bio Inc. has a 12 month low of $1.81 and a 12 month high of $9.75. The stock has a market cap of $2.27 billion, a P/E ratio of -15.16 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 (NYSE:NUVB) last released its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The business had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $66.22 million. As a group, equities research analysts anticipate that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Institutional Trading of Nuvation Bio

Institutional investors have recently bought and sold shares of the stock. Capricorn Fund Managers Ltd purchased a new stake in shares of Nuvation Bio during the fourth quarter valued at $14,236,000. JPMorgan Chase & Co. grew its holdings in shares of Nuvation Bio by 472.8% in the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock worth $2,500,000 after purchasing an additional 557,656 shares during the last quarter. Aisling Capital Management LP increased its stake in Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after buying an additional 419,650 shares during the period. Ishara Investments LP purchased a new position in Nuvation Bio in the 4th quarter worth about $3,584,000. Finally, ACT Capital Management LLC bought a new stake in Nuvation Bio during the 4th quarter valued at about $5,470,000. 61.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NUVB. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.50.

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.