Insider Selling: Nuvation Bio (NYSE:NUVB) CFO Sells $286,484.68 in Stock

Nuvation Bio Inc. (NYSE:NUVB) CFO Philippe Sauvage sold 47,668 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was 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 of the company’s stock, valued at $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Stock Performance

NYSE NUVB opened at $5.61 on Friday. The company has a 50-day simple moving average of $4.94 and a two-hundred day simple moving average of $5.72. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 12-month low of $1.87 and a 12-month high of $9.75. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -13.03 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. On average, equities analysts forecast that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NUVB. UBS Group decreased their price target on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after purchasing an additional 4,608 shares during the last quarter. Millennium Management LLC grew its position 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 buying an additional 1,298,131 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Nuvation Bio during the second quarter valued at approximately $92,000. Creative Planning increased its stake in shares of Nuvation Bio by 267.1% during the second quarter. Creative Planning now owns 39,288 shares of the company’s stock valued at $77,000 after buying an additional 28,585 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of Nuvation Bio during the second quarter valued at approximately $29,000. 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.