Nuvation Bio (NYSE:NUVB) Stock Price Up 8.5% Following Insider Buying Activity

Nuvation Bio Inc. (NYSE:NUVB)’s share price rose 8.5% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $5.07 and last traded at $5.1650. Approximately 1,652,081 shares traded hands during trading, a decline of 66% from the average daily volume of 4,791,129 shares. The stock had previously closed at $4.76.

Specifically, Director Robert Mashal purchased 25,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the transaction, the director 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 legal filing with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Zacks Research lowered shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Finally, HC Wainwright restated a “buy” rating and set a $17.00 price target on shares of Nuvation Bio in a 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 assigned a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Nuvation Bio Trading Up 9.1%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The firm’s fifty day simple moving average is $4.72 and its 200-day simple moving average is $5.89. The stock has a market cap of $1.81 billion, a P/E ratio of -12.06 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results 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 net margin of 102.06% and a negative return on equity of 44.10%. Equities research analysts expect that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.

Institutional Trading of Nuvation Bio

Hedge funds have recently modified their holdings of the stock. Rangeley Capital LLC bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at $25,000. Parallel Advisors LLC increased its stake in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at $29,000. Captrust Financial Advisors bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at $32,000. Finally, KBC Group NV bought a new stake in shares of Nuvation Bio in the 1st quarter valued at $37,000. Institutional investors own 61.67% of the company’s stock.

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.