NewEdge Advisors LLC Buys 78,946 Shares of Nuvation Bio Inc. $NUVB

NewEdge Advisors LLC raised its stake in Nuvation Bio Inc. (NYSE:NUVB) by 8.3% during the first quarter, Holdings Channel reports. The fund owned 1,031,112 shares of the company’s stock after buying an additional 78,946 shares during the period. NewEdge Advisors LLC’s holdings in Nuvation Bio were worth $4,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its stake in shares of Nuvation Bio by 51.9% during 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 last quarter. Kestra Advisory Services LLC purchased a new position in Nuvation Bio in the fourth quarter valued at approximately $71,000. KBC Group NV bought a new position in Nuvation Bio during the first quarter valued at $37,000. Patriot Financial Group Insurance Agency LLC bought a new position in Nuvation Bio during the first quarter valued at $43,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in Nuvation Bio in the fourth quarter worth $100,000. 61.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert Mashal purchased 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of $4.73 per share, with a total value of $118,250.00. Following the completion of the acquisition, the director owned 225,000 shares in the company, valued at $1,064,250. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stacy Markel sold 125,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total value of $753,750.00. Following the completion of the sale, the insider owned 32,591 shares in the company, valued at $196,523.73. This trade represents a 79.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 235,668 shares of company stock valued at $1,419,495. Corporate insiders own 30.11% of the company’s stock.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $6.40 on Wednesday. The firm has a market capitalization of $2.23 billion, a P/E ratio of -14.55 and a beta of 1.52. Nuvation Bio Inc. has a one year low of $2.21 and a one year high of $9.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14. The business has a fifty day moving average price of $5.82 and a 200-day moving average price of $5.24.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. As a group, equities research analysts forecast that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

NUVB has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price target on Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Nuvation Bio in a report on Friday. Finally, HC Wainwright lifted their target price on shares of Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Eight investment 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. Based on data from MarketBeat, Nuvation Bio presently has an average rating of “Moderate Buy” and an average target price 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.