Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells $753,750.00 in Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Stacy Markel sold 125,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the sale, the insider directly owned 32,591 shares of the company’s stock, valued at approximately $196,523.73. This represents a 79.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $5.61 on Friday. The company has a market capitalization of $1.95 billion, a P/E ratio of -13.03 and a beta of 1.52. The company’s 50-day moving average is $4.94 and its 200 day moving average is $5.72. 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 fifty-two week low of $1.87 and a fifty-two week high of $9.75.

Nuvation Bio (NYSE:NUVB) last announced 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 business had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. On average, equities research analysts forecast that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.

Institutional Trading of Nuvation Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in NUVB. Rangeley Capital LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth about $25,000. Parallel Advisors LLC grew its holdings in Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Nuvation Bio during the second quarter valued at about $29,000. Captrust Financial Advisors bought a new stake in shares of Nuvation Bio during the second quarter valued at about $32,000. Finally, KBC Group NV purchased a new stake in shares of Nuvation Bio in the first quarter worth about $37,000. 61.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on NUVB shares. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.50.

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.