Ishara Investments LP Buys New Shares in Nuvation Bio Inc. $NUVB

Key Points

• Ishara Investments LP disclosed a new fourth-quarter stake in Nuvation Bio, buying 400,000 shares worth about $3.58 million. The position makes up 4.1% of Ishara’s portfolio and is its 7th-largest holding.
• Insider activity was mixed: Director Robert Mashal bought 25,000 shares in June, while insider Dongfang Liu sold 50,000 shares in April under a pre-arranged Rule 10b5-1 plan. Overall, insiders sold 286,750 shares last quarter.
• Nuvation Bio topped earnings expectations in its latest quarter, reporting $0.01 EPS versus an expected loss and revenue of $83.23 million versus estimates of $66.22 million. Analysts currently rate the stock a Moderate Buy with an average target price of $12.50.

Ishara Investments LP bought a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 400,000 shares of the company's stock, valued at approximately $3,584,000. Nuvation Bio comprises 4.1% of Ishara Investments LP's investment portfolio, making the stock its 7th largest position. Ishara Investments LP owned approximately 0.12% of Nuvation Bio at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rangeley Capital LLC acquired a new stake in Nuvation Bio during the second quarter valued at approximately $25,000. Parallel Advisors LLC lifted its stake in Nuvation Bio by 51.9% during the third 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 during the last quarter. Cetera Investment Advisers acquired a new stake in Nuvation Bio during the second quarter valued at approximately $29,000. Captrust Financial Advisors acquired a new stake in Nuvation Bio during the second quarter valued at approximately $32,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in Nuvation Bio during the third quarter valued at approximately $39,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal acquired 25,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the purchase, the director owned 225,000 shares in the company, valued at $1,064,250. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $251,000.00. Following the transaction, the insider owned 18,000 shares in the company, valued at approximately $90,360. This trade represents a 73.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 286,750 shares of company stock worth $1,339,118. 30.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on NUVB. Wedbush reissued an "outperform" rating and set a $11.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Citigroup reissued a "market outperform" rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Royal Bank Of Canada reissued an "outperform" rating and set a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, UBS Group reduced their price target on shares of Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.50.

Nuvation Bio Stock Up 4.2%

Nuvation Bio stock opened at $5.33 on Thursday. The firm has a market cap of $1.86 billion, a PE ratio of -12.40 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. The firm's 50 day moving average price is $4.78 and its two-hundred day moving average price is $5.81. Nuvation Bio Inc. has a twelve month low of $1.58 and a twelve month high of $9.75.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating 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 net margin of 102.06% and a negative return on equity of 44.10%. On average, research analysts predict 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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