Caxton Associates LLP Cuts Holdings in Nuvation Bio Inc. $NUVB

Key Points

• Caxton Associates cut its Nuvation Bio stake by 91.8% in the first quarter, selling 537,108 shares and retaining 47,827 shares valued at approximately $205,000. Institutional investors collectively own 61.67% of NUVB.
• Nuvation Bio reported quarterly revenue of $83.23 million and EPS of $0.01, exceeding analyst expectations, though it continues to post negative profitability metrics and analysts expect a full-year loss.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $12.88 versus the stock’s reported $6.58 price. Recent insider activity was mixed, including significant insider selling and a director’s purchase of 25,000 shares.

Caxton Associates LLP reduced its position in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 91.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,827 shares of the company's stock after selling 537,108 shares during the quarter. Caxton Associates LLP's holdings in Nuvation Bio were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in Nuvation Bio during the first quarter worth about $37,000. Sanctuary Advisors LLC lifted its stake in shares of Nuvation Bio by 121.1% in the 1st quarter. Sanctuary Advisors LLC now owns 33,508 shares of the company's stock valued at $144,000 after purchasing an additional 18,351 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Nuvation Bio in the 1st quarter valued at about $634,000. Hsbc Holdings PLC purchased a new stake in shares of Nuvation Bio during the 1st quarter worth about $101,000. Finally, Revisor Wealth Management LLC grew its holdings in shares of Nuvation Bio by 40.3% during the 1st quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company's stock worth $79,000 after purchasing an additional 5,317 shares during the period. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Price Performance

NUVB stock opened at $6.58 on Thursday. The firm has a market cap of $2.29 billion, a P/E ratio of -15.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. Nuvation Bio Inc. has a 1 year low of $2.18 and a 1 year high of $9.75. The stock has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $5.24.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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%. On average, equities analysts predict that Nuvation Bio Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NUVB has been the topic of several research reports. Zacks Research upgraded shares of Nuvation Bio from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wedbush reiterated an "outperform" rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Thursday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of Nuvation Bio in a research report on Wednesday, July 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a research note on Friday, July 17th. Finally, Truist Financial raised their target price on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.88.

Insider Activity

In related news, insider Stacy Markel sold 125,000 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the sale, the insider directly owned 32,591 shares of the company's stock, valued at approximately $196,523.73. This trade represents a 79.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal purchased 25,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the purchase, the director directly owned 225,000 shares in the company, valued at $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 235,668 shares of company stock worth $1,419,495. Company insiders own 30.11% of the company's stock.

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.

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