UBS Group AG Sells 292,699 Shares of Nuvation Bio Inc. $NUVB

UBS Group AG cut its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 32.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 615,402 shares of the company’s stock after selling 292,699 shares during the quarter. UBS Group AG’s holdings in Nuvation Bio were worth $5,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Nuvation Bio by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock worth $139,378,000 after acquiring an additional 101,011 shares during the period. Arizona State Retirement System increased its position in Nuvation Bio by 13.1% during the 4th quarter. Arizona State Retirement System now owns 62,462 shares of the company’s stock valued at $560,000 after purchasing an additional 7,246 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Nuvation Bio in the 4th quarter worth $190,000. SageGuard Financial Group LLC purchased a new stake in shares of Nuvation Bio in the 4th quarter worth about $182,000. Finally, Revisor Wealth Management LLC purchased a new stake in shares of Nuvation Bio in the 4th quarter worth about $118,000. Institutional investors own 61.67% of the company’s stock.

Analyst Upgrades and Downgrades

NUVB has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. UBS Group cut their price objective on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Insiders Place Their Bets

In other news, insider Dongfang Liu sold 50,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $90,360. This represents a 73.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $4.52, for a total value of $904,000.00. Following the transaction, the insider owned 53,000 shares of the company’s stock, valued at $239,560. The trade was a 79.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 286,750 shares of company stock valued at $1,339,118 in the last quarter. 30.11% of the stock is owned by company insiders.

Nuvation Bio Stock Up 6.5%

Shares of Nuvation Bio stock opened at $4.52 on Thursday. Nuvation Bio Inc. has a 1 year low of $1.57 and a 1 year high of $9.75. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -10.50 and a beta of 1.51. The company has a 50-day moving average of $4.58 and a 200 day moving average of $5.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The business had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.52 earnings per share for the current fiscal year.

About Nuvation Bio

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.