Nuvation Bio (NYSE:NUVB) Director Purchases $118,250.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) Director Robert Mashal bought 25,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the acquisition, the director directly owned 225,000 shares of the company’s stock, valued at approximately $1,064,250. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Nuvation Bio Stock Up 4.3%

Nuvation Bio stock traded up $0.20 during mid-day trading on Thursday, hitting $4.78. The company had a trading volume of 3,456,693 shares, compared to its average volume of 4,387,448. 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 stock’s 50 day moving average price is $4.72 and its two-hundred day moving average price is $5.89. Nuvation Bio Inc. has a 12 month low of $1.57 and a 12 month high of $9.75. The company has a market capitalization of $1.66 billion, a PE ratio of -11.10 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The business had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its stake in shares of Nuvation Bio by 9.8% in the 4th quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock worth $201,000 after purchasing an additional 2,007 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Nuvation Bio by 17.7% during the 4th quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock valued at $219,000 after purchasing an additional 3,681 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in shares of Nuvation Bio by 3.8% during the 4th quarter. Meridian Wealth Management LLC now owns 113,565 shares of the company’s stock valued at $1,018,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Nuvation Bio by 38.8% during the third quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock valued at $58,000 after purchasing an additional 4,400 shares during the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on NUVB. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Zacks Research cut Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. UBS Group lowered their price objective on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

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.