Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells 15,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Dongfang Liu sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $5.10, for a total transaction of $76,500.00. Following the sale, the insider directly owned 18,000 shares in the company, valued at $91,800. This represents a 45.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Dongfang Liu also recently made the following trade(s):

• On Wednesday, November 19th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The shares were sold at an average price of $5.10, for a total transaction of $76,500.00.
• On Monday, November 17th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The stock was sold at an average price of $4.76, for a total value of $71,400.00.
• On Monday, November 17th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The shares were sold at an average price of $4.76, for a total value of $71,400.00.

Nuvation Bio Price Performance

NUVB traded up $2.35 during trading on Wednesday, hitting $7.15. The company’s stock had a trading volume of 58,912,933 shares, compared to its average volume of 5,464,649. The firm’s 50 day moving average price is $4.04 and its two-hundred day moving average price is $2.96. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $7.35. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -11.17 and a beta of 1.49.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The company had revenue of $13.12 million for the quarter, compared to analysts’ expectations of $7.48 million. Sell-side analysts forecast that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of Nuvation Bio

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Nuvation Bio by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock worth $11,691,000 after buying an additional 864,194 shares during the period. MPM Bioimpact LLC increased its holdings in shares of Nuvation Bio by 11.7% in the first quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock worth $8,188,000 after acquiring an additional 488,065 shares in the last quarter. Millennium Management LLC raised its position in shares of Nuvation Bio by 52.4% during the first 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. Dimensional Fund Advisors LP lifted its holdings in shares of Nuvation Bio by 19.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock valued at $12,276,000 after purchasing an additional 551,508 shares in the last quarter. Finally, Aisling Capital Management LP lifted its holdings in shares of Nuvation Bio by 16.5% during the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after purchasing an additional 419,650 shares in the last quarter. Institutional investors own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Nuvation Bio in a research note on Friday, September 19th. Citizens Jmp increased their price objective on shares of Nuvation Bio from $6.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, November 4th. Jefferies Financial Group began coverage on shares of Nuvation Bio in a report on Tuesday, September 30th. They set a “buy” rating and a $10.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.00.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.