Decheng Capital LLC Sells 646,057 Shares of Nuvation Bio Inc. $NUVB

Decheng Capital LLC cut its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 2.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,954,439 shares of the company’s stock after selling 646,057 shares during the quarter. Nuvation Bio comprises 16.8% of Decheng Capital LLC’s portfolio, making the stock its 2nd biggest position. Decheng Capital LLC owned about 0.07% of Nuvation Bio worth $111,345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Nuvation Bio by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock valued at $139,378,000 after acquiring an additional 101,011 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Nuvation Bio by 19.9% during the third quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock valued at $12,276,000 after purchasing an additional 551,508 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Nuvation Bio by 852.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock valued at $24,270,000 after purchasing an additional 2,424,109 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Nuvation Bio by 95.7% in the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock valued at $8,797,000 after purchasing an additional 1,162,837 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nuvation Bio

In related news, insider Kerry Wentworth sold 63,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total transaction of $379,260.00. Following the transaction, the insider directly owned 53,000 shares in the company, valued at approximately $319,060. The trade was a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the sale, the chief financial officer owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. The trade was a 79.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 235,668 shares of company stock worth $1,419,495. Company insiders own 30.11% of the company’s stock.

Nuvation Bio Stock Performance

NUVB opened at $6.55 on Thursday. The firm’s fifty day simple moving average is $5.31 and its two-hundred day simple moving average is $5.31. Nuvation Bio Inc. has a 52-week low of $2.18 and a 52-week high of $9.75. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -15.24 and a beta of 1.52. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15.

Nuvation Bio (NYSE:NUVB) last released its earnings results 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 for 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%. Equities analysts anticipate that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NUVB has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note 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. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nuvation Bio in a research note on Wednesday. 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 company. According to data from MarketBeat.com, Nuvation Bio currently has an average rating of “Moderate Buy” and a consensus target price of $12.38.

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.