Hennion & Walsh Asset Management Inc. Buys 139,633 Shares of Nuvation Bio Inc. $NUVB

Hennion & Walsh Asset Management Inc. grew its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 69.9% in the third quarter, Holdings Channel reports. The institutional investor owned 339,271 shares of the company’s stock after purchasing an additional 139,633 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Nuvation Bio were worth $1,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NUVB. Millennium Management LLC increased its stake in Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after acquiring an additional 1,298,131 shares during the period. Natixis bought a new stake in shares of Nuvation Bio during the second quarter valued at approximately $1,766,000. Marshall Wace LLP acquired a new position in shares of Nuvation Bio in the second quarter valued at $1,699,000. Geode Capital Management LLC lifted its position in Nuvation Bio by 16.8% in the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock worth $11,691,000 after purchasing an additional 864,194 shares during the period. Finally, Armistice Capital LLC bought a new position in Nuvation Bio in the second quarter worth $975,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dongfang Liu sold 150,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the sale, the insider owned 18,000 shares in the company, valued at $140,760. The trade was a 89.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 320,000 shares of company stock valued at $2,050,800. Corporate insiders own 29.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NUVB shares. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Nuvation Bio in a research note on Monday, October 13th. Jefferies Financial Group initiated coverage on shares of Nuvation Bio in a research report on Tuesday, September 30th. They issued a “buy” rating and a $10.00 price target for the company. JMP Securities set a $10.00 price target on shares of Nuvation Bio in a research note on Thursday, November 20th. Royal Bank Of Canada upped their price objective on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, B. Riley started coverage on Nuvation Bio in a research report on Wednesday, November 19th. They set a “buy” rating and a $12.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Nuvation Bio has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock opened at $8.03 on Friday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -12.55 and a beta of 1.54. The firm’s 50-day moving average price is $7.58 and its two-hundred day moving average price is $4.60. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $9.75.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $13.12 million during the quarter, compared to analysts’ expectations of $7.48 million. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. On average, equities analysts predict that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

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.