UBS Group AG Reduces Stake in Nuvation Bio Inc. $NUVB

Key Points

• UBS Group AG cut its Nuvation Bio stake by 32.2% in the fourth quarter, selling 292,699 shares and leaving it with 615,402 shares valued at about $5.5 million.
• Nuvation Bio reported stronger-than-expected quarterly results, posting EPS of $0.01 versus an estimated loss and revenue of $83.23 million versus $66.22 million expected.
• Insider selling has been notable, with executives including Dongfang Liu and Kerry Wentworth selling shares in April; analysts remain mostly positive overall with a consensus “Moderate Buy” rating.

UBS Group AG reduced its stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 32.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 615,402 shares of the company's stock after selling 292,699 shares during the period. UBS Group AG owned about 0.18% of Nuvation Bio worth $5,514,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NUVB. Vanguard Group Inc. lifted its stake in Nuvation Bio by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company's stock valued at $139,378,000 after purchasing an additional 101,011 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Nuvation Bio by 13.1% in the fourth quarter. Arizona State Retirement System now owns 62,462 shares of the company's stock valued at $560,000 after buying an additional 7,246 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Nuvation Bio in the fourth quarter valued at $190,000. SageGuard Financial Group LLC purchased a new position in shares of Nuvation Bio during the 4th quarter valued at $182,000. Finally, Revisor Wealth Management LLC purchased a new position in shares of Nuvation Bio during the 4th quarter valued at $118,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

Nuvation Bio Stock Up 6.5%

NUVB opened at $4.52 on Thursday. The business's fifty day simple moving average is $4.58 and its 200 day simple moving average is $5.94. Nuvation Bio Inc. has a 52 week low of $1.57 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 stock has a market cap of $1.57 billion, a PE ratio of -10.50 and a beta of 1.51.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued 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 return on equity of 44.10% and a negative net margin of 102.06%.The firm had revenue of $83.23 million during the quarter, compared to analyst estimates of $66.22 million. As a group, research analysts expect that Nuvation Bio Inc. will post -0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NUVB shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Wedbush reaffirmed an "outperform" rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Truist Financial set a $13.00 target price on shares of Nuvation Bio in a research note on Tuesday, January 27th. HC Wainwright reissued a "buy" rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $20.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.50.

Insider Buying and Selling

In other news, insider Dongfang Liu sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.02, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of Nuvation Bio stock in a transaction on Friday, April 17th. The stock was sold at an average price of $5.01, for a total transaction of $184,117.50. Following the completion of the transaction, the insider directly owned 53,000 shares in the company, valued at approximately $265,530. The trade was a 40.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 286,750 shares of company stock valued at $1,339,118. Company insiders own 30.11% 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.

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