Caxton Associates LLP Trims Stock Holdings in Nuvation Bio Inc. $NUVB

Caxton Associates LLP lessened its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 91.8% in the first quarter, Holdings Channel.com reports. The firm owned 47,827 shares of the company’s stock after selling 537,108 shares during the period. Caxton Associates LLP’s holdings in Nuvation Bio were worth $205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC grew its position in shares of Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the second quarter worth $29,000. Captrust Financial Advisors bought a new stake in shares of Nuvation Bio in the second quarter worth $32,000. Finally, KBC Group NV acquired a new stake in Nuvation Bio in the first quarter valued at $37,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NUVB shares. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a research report on Thursday, July 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nuvation Bio in a research report on Wednesday, July 22nd. Finally, HC Wainwright increased their price target on shares of Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.88.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, 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 transaction of $286,484.68. Following the sale, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the transaction, the insider owned 32,591 shares in the company, valued at approximately $196,523.73. The trade was a 79.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 235,668 shares of company stock valued at $1,419,495 over the last three months. 30.11% of the stock is currently owned by company insiders.

Nuvation Bio Stock Performance

NUVB stock opened at $6.58 on Thursday. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.29 billion, a P/E ratio of -15.30 and a beta of 1.52. Nuvation Bio Inc. has a 12-month low of $2.18 and a 12-month high of $9.75. The stock’s 50 day simple moving average is $5.53 and its 200 day simple moving average is $5.24.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to analysts’ expectations of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. As a group, equities research analysts predict that Nuvation Bio Inc. will post -0.38 EPS for the current 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.