Nuvation Bio (NYSE:NUVB) Insider Sells $709,000.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the sale, the insider directly owned 100,000 shares in the company, valued at $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $6.92 on Monday. The business has a fifty day moving average of $6.11 and a 200 day moving average of $5.31. Nuvation Bio Inc. has a 1 year low of $2.76 and a 1 year high of $9.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -15.73 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. As a group, research analysts expect that Nuvation Bio Inc. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC increased its holdings in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at $29,000. Sanctuary Advisors LLC acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at $32,000. Finally, Captrust Financial Advisors purchased a new stake in Nuvation Bio during the second quarter worth $32,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Royal Bank Of Canada lifted their price objective on shares of Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Truist Financial upped their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.00.

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.