Nuvation Bio Inc. $NUVB is Omega Fund Management LLC’s 4th Largest Position

Omega Fund Management LLC trimmed its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 15.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,042,728 shares of the company’s stock after selling 2,029,612 shares during the period. Nuvation Bio accounts for 14.0% of Omega Fund Management LLC’s holdings, making the stock its 4th biggest position. Omega Fund Management LLC owned about 3.25% of Nuvation Bio worth $21,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Highline Wealth Partners LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $25,000. Cetera Investment Advisers purchased a new stake in Nuvation Bio during the 2nd quarter worth approximately $29,000. Kingswood Wealth Advisors LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth approximately $42,000. Atria Investments Inc acquired a new position in shares of Nuvation Bio during the second quarter valued at approximately $42,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Nuvation Bio by 45.0% in the second quarter. Ameritas Investment Partners Inc. now owns 25,480 shares of the company’s stock valued at $50,000 after acquiring an additional 7,913 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total transaction of $502,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $140,760. This represents a 89.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 320,000 shares of company stock worth $2,050,800 over the last three months. Insiders own 29.93% of the company’s stock.

Nuvation Bio Price Performance

NYSE:NUVB opened at $8.60 on Tuesday. Nuvation Bio Inc. has a 52 week low of $1.54 and a 52 week high of $8.95. The stock’s fifty day moving average is $5.33 and its two-hundred day moving average is $3.52. The company has a market capitalization of $2.95 billion, a P/E ratio of -13.43 and a beta of 1.57. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The firm had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. Equities analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NUVB. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. Truist Financial set a $11.00 target price on shares of Nuvation Bio in a report on Monday, November 24th. Royal Bank Of Canada raised their price target on shares of Nuvation Bio from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Nuvation Bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.