Nuvation Bio (NYSE:NUVB) Insider Kerry Wentworth Sells 63,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 63,000 shares of the company’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 completion of the sale, the insider directly owned 53,000 shares in the company, valued at $319,060. This trade represents a 54.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kerry Wentworth also recently made the following trade(s):

• On Friday, April 17th, Kerry Wentworth sold 36,750 shares of Nuvation Bio stock. The shares were sold at an average price of $5.01, for a total transaction of $184,117.50.
• On Monday, April 6th, Kerry Wentworth sold 200,000 shares of Nuvation Bio stock. The stock was sold at an average price of $4.52, for a total transaction of $904,000.00.

Nuvation Bio Trading Up 8.0%

Shares of Nuvation Bio stock opened at $6.52 on Thursday. 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 Inc. has a 1 year low of $1.81 and a 1 year high of $9.75. The company has a market capitalization of $2.27 billion, a P/E ratio of -15.16 and a beta of 1.52. The business has a 50 day moving average price of $4.91 and a 200 day moving average price of $5.74.

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

Wall Street Analyst Weigh In

NUVB has been the topic of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group reduced their target price on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Finally, Zacks Research cut shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Nuvation Bio presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC increased its position in Nuvation Bio by 9.8% during the fourth quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock worth $201,000 after purchasing an additional 2,007 shares during the last quarter. Parallel Advisors LLC grew its stake 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 buying an additional 2,597 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Nuvation Bio by 17.7% during the 4th quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock worth $219,000 after buying an additional 3,681 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Nuvation Bio by 3.8% during the 4th quarter. Meridian Wealth Management LLC now owns 113,565 shares of the company’s stock worth $1,018,000 after buying an additional 4,200 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Nuvation Bio by 38.8% in the 3rd quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock worth $58,000 after buying an additional 4,400 shares during the period. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.