Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells $753,750.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Stacy Markel sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total value of $753,750.00. Following the transaction, the insider owned 32,591 shares of the company’s stock, valued at $196,523.73. This trade represents a 79.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

NUVB stock traded up $0.48 during trading on Wednesday, hitting $6.52. The company had a trading volume of 9,424,487 shares, compared to its average volume of 4,353,571. The company has a fifty day moving average price of $4.91 and a two-hundred day moving average price of $5.74. Nuvation Bio Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $9.75. The company has a market cap of $2.27 billion, a P/E ratio of -15.16 and a beta of 1.52. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15.

Nuvation Bio (NYSE:NUVB) last released 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 during the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. Equities research analysts expect that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Zacks Research downgraded Nuvation Bio from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Finally, Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Nuvation Bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Hedge Funds Weigh In On Nuvation Bio

A number of large investors have recently modified their holdings of NUVB. NewEdge Advisors LLC increased its holdings in shares of Nuvation Bio by 8.3% in the first quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock valued at $4,423,000 after purchasing an additional 78,946 shares in the last quarter. Tanaka Capital Management Inc. lifted its holdings in Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after buying an additional 60,220 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in Nuvation Bio in the 1st quarter valued at $187,000. Amundi increased its stake in shares of Nuvation Bio by 181.5% in the 1st quarter. Amundi now owns 36,072 shares of the company’s stock valued at $155,000 after buying an additional 23,258 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Nuvation Bio by 42.2% in the 1st quarter. California State Teachers Retirement System now owns 303,784 shares of the company’s stock valued at $1,303,000 after buying an additional 90,114 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.