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

Shares of Nuvation Bio Inc. (NYSE:NUVB) shot up 8.5% 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. 1,652,081 shares were traded during mid-day trading, a decline of 66% from the average session 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 that occurred on Tuesday, June 9th. The stock was acquired at an average price of $4.73 per share, with a total value of $118,250.00. Following the transaction, the director owned 225,000 shares in the company, valued at $1,064,250. This trade represents a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NUVB. UBS Group reduced their price target on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Nuvation Bio has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Nuvation Bio Stock Up 9.1%

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 has a market capitalization of $1.81 billion, a PE ratio of -12.06 and a beta of 1.52. The stock’s fifty day simple moving average is $4.72 and its 200-day simple moving average is $5.89.

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

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in Nuvation Bio by 8.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock worth $4,423,000 after acquiring an additional 78,946 shares during the last quarter. Tanaka Capital Management Inc. boosted its holdings in Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after acquiring an additional 60,220 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in Nuvation Bio during the 1st quarter worth $187,000. Amundi raised its stake in shares of Nuvation Bio by 181.5% during the 1st quarter. Amundi now owns 36,072 shares of the company’s stock worth $155,000 after purchasing an additional 23,258 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of 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 purchasing an additional 90,114 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.