Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells $184,117.50 in Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 36,750 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.01, for a total value of $184,117.50. Following the completion of the sale, the insider owned 53,000 shares in the company, valued at $265,530. The trade was a 40.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Trading Down 1.3%

Shares of NYSE:NUVB opened at $5.06 on Friday. The company has a current ratio of 6.95, a quick ratio of 6.81 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 12-month low of $1.57 and a 12-month high of $9.75. The business has a 50 day moving average of $4.83 and a two-hundred day moving average of $5.86. The company has a market capitalization of $1.76 billion, a PE ratio of -8.42 and a beta of 1.60.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $41.87 million for the quarter, compared to analysts’ expectations of $36.82 million. Nuvation Bio had a negative net margin of 325.31% and a negative return on equity of 57.48%. As a group, analysts forecast that Nuvation Bio Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Thursday, April 16th. Royal Bank Of Canada increased their target price on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. HC Wainwright dropped their target price on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday. Finally, Truist Financial set a $13.00 price target on Nuvation Bio in a report on Tuesday, January 27th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.63.

Hedge Funds Weigh In On Nuvation Bio

A number of large investors have recently added to or reduced their stakes in NUVB. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio in the second quarter valued at about $25,000. Parallel Advisors LLC increased its stake 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 purchasing an additional 2,597 shares in the last quarter. Cetera Investment Advisers purchased a new position in Nuvation Bio in the 2nd quarter valued at about $29,000. Captrust Financial Advisors acquired a new stake in Nuvation Bio in the 2nd quarter worth about $32,000. Finally, Swiss Life Asset Management Ltd acquired a new position in shares of Nuvation Bio during the third quarter valued at approximately $39,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.