Nuvation Bio (NYSE:NUVB) Insider Gary Hattersley Sells 100,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB) 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 value of $709,000.00. Following the completion of the sale, the insider owned 100,000 shares of the company’s stock, valued at $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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

NYSE NUVB opened at $6.92 on Friday. The company has a market cap of $2.43 billion, a PE ratio of -15.73 and a beta of 1.52. The firm’s 50 day moving average price is $6.11 and its 200-day moving average price is $5.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. Nuvation Bio Inc. has a 52-week low of $2.76 and a 52-week high of $9.75.

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). Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. The company had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $27.03 million. Sell-side analysts forecast that Nuvation Bio Inc. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Nuvation Bio

Several large investors have recently made changes to their positions in NUVB. Vanguard Group Inc. increased its stake in shares of Nuvation Bio by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock worth $139,378,000 after acquiring an additional 101,011 shares during the period. Millennium Management LLC lifted its position 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 purchasing an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP lifted its position in Nuvation Bio by 19.9% during the third quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock valued at $12,276,000 after purchasing an additional 551,508 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Nuvation Bio by 852.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock valued at $24,270,000 after purchasing an additional 2,424,109 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Nuvation Bio by 95.7% in the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock valued at $8,797,000 after purchasing an additional 1,162,837 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NUVB shares. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Thursday, July 23rd. Royal Bank Of Canada raised their target price on Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research report on Friday, July 17th. Truist Financial boosted their price target on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Ten 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. According to MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and an average price target of $13.00.

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.