NewEdge Advisors LLC Has $4.42 Million Stock Holdings in Nuvation Bio Inc. $NUVB

NewEdge Advisors LLC increased its position in Nuvation Bio Inc. (NYSE:NUVB) by 8.3% during the first quarter, Holdings Channel reports. The firm owned 1,031,112 shares of the company’s stock after buying an additional 78,946 shares during the quarter. NewEdge Advisors LLC’s holdings in Nuvation Bio were worth $4,423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its position in Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $71,000. KBC Group NV bought a new position in shares of Nuvation Bio during the 1st quarter worth approximately $37,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Nuvation Bio during the 1st quarter worth approximately $43,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Nuvation Bio during the 4th quarter worth approximately $100,000. Institutional investors own 61.67% of the company’s stock.

Insider Buying and Selling at Nuvation Bio

In related news, insider Kerry Wentworth sold 63,000 shares of the firm’s stock in a transaction dated 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 approximately $319,060. This trade represents a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the transaction, the director owned 225,000 shares of the company’s stock, valued at $1,064,250. This trade represents a 12.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 235,668 shares of company stock valued at $1,419,495. 30.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

NUVB has been the subject of several research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nuvation Bio in a report on Wednesday, July 22nd. Truist Financial increased their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. HC Wainwright lifted their target price on shares of Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research note on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Nuvation Bio Stock Performance

NUVB opened at $6.74 on Friday. 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 business has a fifty day simple moving average of $5.56 and a 200 day simple moving average of $5.23. Nuvation Bio Inc. has a 1 year low of $2.18 and a 1 year high of $9.75. The company 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 posted its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The firm had revenue of $83.23 million for the quarter, compared to analysts’ expectations of $66.22 million. Research analysts expect that Nuvation Bio Inc. will post -0.38 EPS for the current year.

Nuvation Bio 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.