Nuvation Bio Inc. $NUVB Stock Holdings Reduced by Decheng Capital LLC

Key Points

• Decheng Capital trimmed its Nuvation Bio stake by 2.4% in Q1, but still held 25.95 million shares worth about $111.3 million, making Nuvation Bio its second-largest position.
• Several insiders sold shares in late June, including CFO Philippe Sauvage and insider Stacy Markel, and insiders have sold 235,668 shares over the past three months.
• Analyst sentiment remains mixed but constructive overall: Nuvation Bio has a Moderate Buy consensus with an average price target of $12.38, while the stock recently traded around $6.55 after reporting quarterly earnings that beat estimates.

Decheng Capital LLC lowered its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,954,439 shares of the company's stock after selling 646,057 shares during the quarter. Nuvation Bio makes up 16.8% of Decheng Capital LLC's portfolio, making the stock its 2nd biggest position. Decheng Capital LLC owned 7.45% of Nuvation Bio worth $111,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rangeley Capital LLC purchased a new position in Nuvation Bio during the second quarter valued at approximately $25,000. Parallel Advisors LLC boosted its position in 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 acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers bought a new stake in Nuvation Bio during the 2nd quarter valued at $29,000. Captrust Financial Advisors purchased a new position in shares of Nuvation Bio in the 2nd quarter valued at $32,000. Finally, KBC Group NV purchased a new position in shares of Nuvation Bio in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

Insider Activity at Nuvation Bio

In other news, CFO Philippe Sauvage sold 47,668 shares of Nuvation Bio stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the sale, the chief financial officer directly owned 12,673 shares in the company, valued at approximately $76,164.73. The trade was a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the completion of the transaction, the insider directly owned 32,591 shares in the company, valued at approximately $196,523.73. The trade was a 79.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 235,668 shares of company stock worth $1,419,495. Corporate insiders own 30.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NUVB. Wedbush reissued an "outperform" rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvation Bio in a research report on Friday, July 17th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Nuvation Bio in a research note on Wednesday. Zacks Research raised shares of Nuvation Bio from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Citigroup restated a "market outperform" rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio has an average rating of "Moderate Buy" and an average target price of $12.38.

Nuvation Bio Stock Performance

NUVB opened at $6.55 on Thursday. Nuvation Bio Inc. has a 52-week low of $2.18 and a 52-week high of $9.75. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.28 billion, a P/E ratio of -15.24 and a beta of 1.52. The firm's 50-day moving average price is $5.31 and its 200-day moving average price is $5.31.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million during 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%. As a group, equities analysts anticipate that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.

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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