Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells 50,000 Shares of Stock

Key Points

• Insider sale: Nuvation Bio insider Dongfang Liu sold 50,000 shares on April 17 at an average price of $5.02 for $251,000, reducing their stake by 73.53% to 18,000 shares; the sale was executed under a pre-arranged Rule 10b5-1 plan and disclosed in an SEC filing.
• Company performance: NUVB is trading around $5.13 with a market cap of $1.78 billion and a 52-week range of $1.57–$9.75; the company reported Q1 EPS of ($0.11) (meeting estimates) and revenue of $41.87M, but shows negative margins and a negative P/E.
• Analyst and ownership backdrop: Analysts have an average "Moderate Buy" consensus with a $11.63 price target (eight Buys, one Hold, one Sell), and institutional investors own about 61.67% of the stock.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) insider Dongfang Liu sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 18,000 shares in the company, valued at $90,360. This represents a 73.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

NYSE NUVB traded up $0.01 on Tuesday, hitting $5.13. The stock had a trading volume of 3,584,527 shares, compared to its average volume of 4,944,549. Nuvation Bio Inc. has a 52-week low of $1.57 and a 52-week high of $9.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.81 and a current ratio of 6.95. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -8.54 and a beta of 1.60. The firm has a 50-day moving average of $4.87 and a 200-day moving average of $5.86.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Nuvation Bio had a negative net margin of 325.31% and a negative return on equity of 57.48%. The business had revenue of $41.87 million for the quarter, compared to analysts' expectations of $36.82 million. Equities analysts expect that Nuvation Bio Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

NUVB has been the topic of a number of research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a report on Thursday, January 22nd. Royal Bank Of Canada increased their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Truist Financial set a $13.00 price objective on Nuvation Bio in a report on Tuesday, January 27th. UBS Group cut their price objective on Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Finally, Wedbush restated an "outperform" rating and issued a $11.00 target price on shares of Nuvation Bio in a research report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nuvation Bio presently has an average rating of "Moderate Buy" and a consensus price target of $11.63.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently added to or reduced their stakes in the business. Rangeley Capital LLC purchased a new position in Nuvation Bio in the 2nd quarter worth $25,000. Parallel Advisors LLC raised its position in Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company's stock worth $28,000 after purchasing an additional 2,597 shares during the period. Cetera Investment Advisers purchased a new position in Nuvation Bio in the 2nd quarter worth $29,000. Captrust Financial Advisors purchased a new position in Nuvation Bio in the 2nd quarter worth $32,000. Finally, Swiss Life Asset Management Ltd purchased a new position in Nuvation Bio in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 61.67% 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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