Odyssean LLC Raises Stock Position in Nuvation Bio Inc. $NUVB

Odyssean LLC grew its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 166.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,009 shares of the company’s stock after acquiring an additional 104,912 shares during the period. Odyssean LLC’s holdings in Nuvation Bio were worth $954,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rangeley Capital LLC purchased a new position in Nuvation Bio during the 2nd quarter worth $25,000. Parallel Advisors LLC lifted its holdings in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Nuvation Bio in the 2nd quarter worth $29,000. Sanctuary Advisors LLC bought a new position in shares of Nuvation Bio during the 2nd quarter worth $32,000. Finally, Captrust Financial Advisors bought a new position in shares of Nuvation Bio during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Insider Activity

In other news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total transaction of $709,000.00. Following the transaction, the insider directly owned 100,000 shares of the company’s stock, valued at approximately $709,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total value of $286,484.68. Following the sale, the chief financial officer owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. This represents a 79.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 335,668 shares of company stock worth $2,128,495 over the last 90 days. 30.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NUVB. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Cantor Fitzgerald started coverage on shares of Nuvation Bio in a report on Friday, August 21st. They set an “overweight” rating on the stock. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a research report on Thursday, July 23rd. HC Wainwright boosted their price target on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Nuvation Bio in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Nuvation Bio Trading Down 2.3%

NUVB opened at $6.94 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -15.77 and a beta of 1.52. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio Inc. has a 12 month low of $2.87 and a 12 month high of $9.75. The stock has a fifty day moving average price of $6.21 and a 200-day moving average price of $5.33.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. As a group, equities research analysts anticipate that Nuvation Bio Inc. will post -0.34 earnings per share for the current fiscal year.

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.