Kornitzer Capital Management Inc. KS Buys New Stake in Nuvation Bio Inc. $NUVB

Kornitzer Capital Management Inc. KS purchased a new stake in Nuvation Bio Inc. (NYSE:NUVB) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 147,875 shares of the company’s stock, valued at approximately $634,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio in the second quarter valued at about $25,000. Parallel Advisors LLC boosted its holdings 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 acquiring an additional 2,597 shares during the period. Cetera Investment Advisers acquired a new stake in Nuvation Bio in the second quarter valued at approximately $29,000. Captrust Financial Advisors purchased a new stake in shares of Nuvation Bio during the second quarter valued at approximately $32,000. Finally, Swiss Life Asset Management Ltd acquired a new position in shares of Nuvation Bio during the third quarter worth $39,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

NUVB has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Royal Bank Of Canada dropped their target price on Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio presently has an average rating of “Moderate Buy” and an average price target of $12.38.

Insider Buying and Selling

In other news, CFO Philippe Sauvage sold 47,668 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the sale, the chief financial officer directly owned 12,673 shares in the company, valued at approximately $76,164.73. The trade was a 79.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the transaction, the director owned 225,000 shares in the company, valued at approximately $1,064,250. This represents a 12.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 322,418 shares of company stock worth $1,854,612. 30.11% of the stock is currently owned by insiders.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $5.78 on Tuesday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -13.43 and a beta of 1.52. Nuvation Bio Inc. has a one year low of $2.06 and a one year high of $9.75. The company’s 50-day simple moving average is $5.14 and its 200-day simple moving average is $5.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating 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. Equities analysts anticipate that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

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.