Nuvation Bio (NYSE:NUVB) Insider Sells 63,000 Shares

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 63,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total value of $379,260.00. Following the completion of the sale, the insider owned 53,000 shares of the company’s stock, valued at $319,060. This represents a 54.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kerry Wentworth also recently made the following trade(s):

• On Friday, April 17th, Kerry Wentworth sold 36,750 shares of Nuvation Bio stock. The shares were sold at an average price of $5.01, for a total value of $184,117.50.
• On Monday, April 6th, Kerry Wentworth sold 200,000 shares of Nuvation Bio stock. The shares were sold at an average price of $4.52, for a total value of $904,000.00.

Nuvation Bio Stock Performance

Shares of NYSE NUVB traded up $0.48 during trading hours on Wednesday, reaching $6.52. The stock had a trading volume of 9,424,487 shares, compared to its average volume of 4,353,571. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -15.16 and a beta of 1.52. Nuvation Bio Inc. has a twelve month low of $1.81 and a twelve month high of $9.75. The business’s fifty day moving average is $4.91 and its two-hundred day moving average is $5.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share 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 net margin of 102.06% and a negative return on equity of 44.10%. As a group, research analysts expect that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Nuvation Bio by 852.2% during 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 last quarter. Armistice Capital LLC grew its stake in Nuvation Bio by 359.2% during the third quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock worth $8,495,000 after buying an additional 1,796,000 shares during the last quarter. Capricorn Fund Managers Ltd bought a new stake in Nuvation Bio during the fourth quarter worth about $14,236,000. Millennium Management LLC increased its holdings in shares of Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after buying an additional 1,298,131 shares in the last quarter. Finally, SymBiosis Capital Partners LLC acquired a new stake in shares of Nuvation Bio during the fourth quarter worth approximately $11,200,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Analyst Ratings Changes

NUVB has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.50.

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.