Nuvation Bio (NYSE:NUVB) Insider Sells $379,260.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 63,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total transaction of $379,260.00. Following the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at $319,060. The trade was a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, April 17th, Kerry Wentworth sold 36,750 shares of Nuvation Bio stock. The stock was sold at an average price of $5.01, for a total transaction of $184,117.50.
• On Monday, April 6th, Kerry Wentworth sold 200,000 shares of Nuvation Bio stock. The stock was sold at an average price of $4.52, for a total transaction of $904,000.00.

Nuvation Bio Price Performance

Shares of NUVB opened at $5.61 on Friday. The firm has a market cap of $1.95 billion, a PE ratio of -13.03 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. The firm has a fifty day simple moving average of $4.94 and a two-hundred day simple moving average of $5.72. Nuvation Bio Inc. has a 1-year low of $1.87 and a 1-year high of $9.75.

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

Institutional Trading of Nuvation Bio

Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its position in Nuvation Bio by 8.3% in the first quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock worth $4,423,000 after buying an additional 78,946 shares in the last quarter. Tanaka Capital Management Inc. grew its stake in shares of Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after acquiring an additional 60,220 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Nuvation Bio in the 1st quarter worth approximately $187,000. Amundi increased its holdings in Nuvation Bio by 181.5% in the 1st quarter. Amundi now owns 36,072 shares of the company’s stock worth $155,000 after acquiring an additional 23,258 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in Nuvation Bio by 42.2% during the 1st quarter. California State Teachers Retirement System now owns 303,784 shares of the company’s stock worth $1,303,000 after acquiring an additional 90,114 shares during the period. Institutional investors own 61.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NUVB shares. Zacks Research cut Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group dropped their price objective on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.