Nuvation Bio (NYSE:NUVB) Insider Stacy Markel Sells 125,000 Shares of Stock

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

Nuvation Bio Stock Up 8.0%

Shares of NYSE:NUVB opened at $6.52 on Thursday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -15.16 and a beta of 1.52. Nuvation Bio Inc. has a 1-year low of $1.81 and a 1-year high of $9.75. The company’s fifty day moving average is $4.91 and its two-hundred day moving average is $5.74. 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 (NYSE:NUVB) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The business had revenue of $83.23 million during the quarter, compared to analyst estimates of $66.22 million. Equities analysts anticipate that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Wall Street Analyst Weigh In

NUVB has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. UBS Group dropped their price target on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. 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. Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NUVB. HighTower Advisors LLC raised its holdings in shares of Nuvation Bio by 9.8% during the fourth quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock valued at $201,000 after buying an additional 2,007 shares during the last quarter. Parallel Advisors LLC grew its holdings in Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Nuvation Bio by 17.7% in the 4th quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock worth $219,000 after buying an additional 3,681 shares in the last quarter. Meridian Wealth Management LLC increased its position in Nuvation Bio by 3.8% in the 4th quarter. Meridian Wealth Management LLC now owns 113,565 shares of the company’s stock valued at $1,018,000 after acquiring an additional 4,200 shares during the period. Finally, Mackenzie Financial Corp increased its position in Nuvation Bio by 38.8% in the 3rd quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock valued at $58,000 after acquiring an additional 4,400 shares during the period. 61.67% of the stock is owned by institutional investors and hedge funds.

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.