Nuvation Bio (NYSE:NUVB) CFO Philippe Sauvage Sells 47,668 Shares

Nuvation Bio Inc. (NYSE:NUVB) CFO Philippe Sauvage sold 47,668 shares of the firm’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 transaction, the chief financial officer owned 12,673 shares in the company, valued at $76,164.73. This represents a 79.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

Shares of NYSE NUVB opened at $6.52 on Thursday. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a twelve month low of $1.81 and a twelve month high of $9.75. The stock has a 50 day moving average of $4.91 and a two-hundred day moving average of $5.74. The stock has a market cap of $2.27 billion, a P/E ratio of -15.16 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted 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. The business had revenue of $83.23 million during 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, research analysts forecast that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

NUVB has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.50.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in NUVB. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC grew its holdings in Nuvation Bio by 51.9% during the third 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 position in Nuvation Bio during the second quarter worth $29,000. Captrust Financial Advisors purchased a new position in Nuvation Bio in the second quarter worth $32,000. Finally, KBC Group NV purchased a new position in Nuvation Bio in the first quarter worth $37,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.