Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells $709,000.00 in Stock

Key Points

• Nuvation Bio insider Gary Hattersley sold 100,000 shares for approximately $709,000 at $7.09 per share, reducing his direct ownership by 50%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Nuvation Bio shares rose 1.3% to $6.92, while the company reported a quarterly loss of $0.15 per share, slightly below analyst expectations, despite revenue exceeding forecasts.
• Institutional investors hold 61.67% of the stock, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.00.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total transaction of $709,000.00. Following the completion of the transaction, the insider directly owned 100,000 shares of the company's stock, valued at $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Stock Up 1.3%

Shares of NUVB traded up $0.09 on Friday, hitting $6.92. 6,030,254 shares of the stock traded hands, compared to its average volume of 5,628,303. The company has a market capitalization of $2.43 billion, a PE ratio of -15.73 and a beta of 1.52. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. The business has a 50 day simple moving average of $6.07 and a 200 day simple moving average of $5.30. Nuvation Bio Inc. has a one year low of $2.76 and a one year high of $9.75.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. The business had revenue of $31.69 million during the quarter, compared to the consensus estimate of $27.03 million. As a group, equities analysts forecast that Nuvation Bio Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently modified their holdings of NUVB. Price T Rowe Associates Inc. MD grew its stake in shares of Nuvation Bio by 852.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company's stock valued at $24,270,000 after purchasing an additional 2,424,109 shares during the period. Armistice Capital LLC lifted its stake in shares of Nuvation Bio by 359.2% in the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company's stock worth $8,495,000 after purchasing an additional 1,796,000 shares during the period. Millennium Management LLC lifted its stake in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the period. SymBiosis Capital Partners LLC purchased a new position in shares of Nuvation Bio in the fourth quarter worth approximately $11,200,000. Finally, Two Sigma Investments LP grew its position in Nuvation Bio by 95.7% during the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company's stock valued at $8,797,000 after buying an additional 1,162,837 shares during the period. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NUVB shares. Zacks Research raised Nuvation Bio from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a research report on Friday, July 17th. HC Wainwright upped their target price on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Royal Bank Of Canada raised their price target on shares of Nuvation Bio from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Finally, Truist Financial lifted their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Nuvation Bio currently has a consensus rating of "Moderate Buy" and an average price target of $13.00.

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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