ACT Capital Management LLC Makes New $5.47 Million Investment in Nuvation Bio Inc. $NUVB

Key Points

• ACT Capital Management initiated a new position in Nuvation Bio, buying 610,500 shares worth about $5.47 million. The stake represents 4.4% of its portfolio and makes Nuvation Bio its 9th-largest holding.
• Analyst sentiment remains mixed but leans positive: the stock carries a Moderate Buy consensus with an average price target of $12.50, even as some firms issued sell or neutral ratings.
• Nuvation Bio reported better-than-expected quarterly results, posting EPS of $0.01 versus an expected loss and revenue of $83.23 million, while insiders also sold shares during the quarter under pre-arranged trading plans.

ACT Capital Management LLC bought a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 610,500 shares of the company's stock, valued at approximately $5,470,000. Nuvation Bio makes up 4.4% of ACT Capital Management LLC's portfolio, making the stock its 9th largest position. ACT Capital Management LLC owned about 0.18% of Nuvation Bio at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Rangeley Capital LLC bought a new position in Nuvation Bio during the 2nd quarter valued at about $25,000. Parallel Advisors LLC raised its stake in shares of Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company's stock worth $28,000 after acquiring an additional 2,597 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the second quarter worth about $29,000. Captrust Financial Advisors bought a new position in shares of Nuvation Bio in the second quarter worth about $32,000. Finally, Swiss Life Asset Management Ltd bought a new position in shares of Nuvation Bio in the third quarter worth about $39,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NUVB has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group dropped their target price on shares of Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Zacks Research cut shares of Nuvation Bio from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 26th. Finally, HC Wainwright reiterated a "buy" rating and issued a $17.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Insiders Place Their Bets

In other news, insider Kerry Wentworth sold 36,750 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.01, for a total value of $184,117.50. Following the transaction, the insider directly owned 53,000 shares of the company's stock, valued at $265,530. This represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the transaction, the insider directly owned 18,000 shares in the company, valued at $90,360. The trade was a 73.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 286,750 shares of company stock valued at $1,339,118. 30.11% of the stock is currently owned by corporate insiders.

Nuvation Bio Stock Performance

Shares of NUVB opened at $5.33 on Thursday. Nuvation Bio Inc. has a 12 month low of $1.58 and a 12 month high of $9.75. The firm has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $5.81. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -12.40 and a beta of 1.52. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (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 firm had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Research analysts forecast that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal 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.

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