NewEdge Advisors LLC Grows Stock Position in Nuvation Bio Inc. $NUVB

NewEdge Advisors LLC raised its position in Nuvation Bio Inc. (NYSE:NUVB) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,031,112 shares of the company’s stock after acquiring an additional 78,946 shares during the quarter. NewEdge Advisors LLC owned 0.30% of Nuvation Bio worth $4,423,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NUVB. Capricorn Fund Managers Ltd bought a new stake in shares of Nuvation Bio during the fourth quarter worth $14,236,000. JPMorgan Chase & Co. lifted its position in Nuvation Bio by 472.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after acquiring an additional 557,656 shares in the last quarter. Ishara Investments LP acquired a new position in Nuvation Bio in the 4th quarter worth $3,584,000. ACT Capital Management LLC acquired a new position in Nuvation Bio in the 4th quarter worth $5,470,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in Nuvation Bio during the 1st quarter worth about $634,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Trading Up 2.2%

Shares of NYSE:NUVB opened at $6.74 on Friday. The company’s 50-day moving average price is $5.56 and its two-hundred day moving average price is $5.23. Nuvation Bio Inc. has a one year low of $2.18 and a one year high of $9.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24. The stock has a market capitalization of $2.35 billion, a PE ratio of -15.66 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data 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 company had revenue of $83.23 million during 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 forecast that Nuvation Bio Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, CFO Philippe Sauvage sold 47,668 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the transaction, the chief financial officer directly owned 12,673 shares in the company, valued at $76,164.73. This trade represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the company’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 sale, the insider owned 32,591 shares in the company, valued at approximately $196,523.73. This represents a 79.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 235,668 shares of company stock valued at $1,419,495. 30.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Thursday, July 23rd. HC Wainwright lifted their target price on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Nuvation Bio in a research note on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

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.