Nuvation Bio Inc. $NUVB Shares Sold by Armistice Capital LLC

Armistice Capital LLC reduced its position in Nuvation Bio Inc. (NYSE:NUVB) by 45.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,263,737 shares of the company’s stock after selling 1,032,263 shares during the quarter. Armistice Capital LLC’s holdings in Nuvation Bio were worth $11,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. ACT Capital Management LLC acquired a new position in shares of Nuvation Bio in the 4th quarter valued at about $5,470,000. Cetera Investment Advisers raised its holdings in shares of Nuvation Bio by 66.0% during the 4th quarter. Cetera Investment Advisers now owns 33,864 shares of the company’s stock valued at $303,000 after buying an additional 13,460 shares during the period. Trexquant Investment LP purchased a new stake in shares of Nuvation Bio during the 4th quarter valued at about $1,675,000. Amundi purchased a new stake in shares of Nuvation Bio during the 4th quarter valued at about $115,000. Finally, Jump Financial LLC purchased a new stake in shares of Nuvation Bio during the 4th quarter valued at about $1,520,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $5.33 on Thursday. The company has a market cap of $1.86 billion, a P/E ratio of -12.40 and a beta of 1.52. 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 Inc. has a one year low of $1.58 and a one year high of $9.75. The business’s 50-day simple moving average is $4.78 and its 200 day simple moving average is $5.81.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. On average, sell-side analysts forecast that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nuvation Bio news, Director Robert Mashal acquired 25,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the acquisition, the director directly owned 225,000 shares of the company’s stock, valued at $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the insider owned 18,000 shares in the company, valued at $90,360. This represents a 73.53% decrease in their ownership of the stock. 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. Insiders have sold 286,750 shares of company stock worth $1,339,118 in the last three months. 30.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. UBS Group dropped their target price on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.50.

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.