Nuvation Bio Inc. $NUVB Shares Acquired by Odyssean LLC

Odyssean LLC lifted its position in Nuvation Bio Inc. (NYSE:NUVB) by 166.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,009 shares of the company’s stock after acquiring an additional 104,912 shares during the period. Odyssean LLC’s holdings in Nuvation Bio were worth $954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Nuvation Bio by 852.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock worth $24,270,000 after acquiring an additional 2,424,109 shares during the period. Armistice Capital LLC increased its holdings in shares of Nuvation Bio by 359.2% in the third quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after purchasing an additional 1,796,000 shares during the period. Millennium Management LLC increased its holdings in shares of Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares during the period. SymBiosis Capital Partners LLC purchased a new position in shares of Nuvation Bio in the fourth quarter worth about $11,200,000. Finally, Two Sigma Investments LP raised its stake in shares of Nuvation Bio by 95.7% in the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock worth $8,797,000 after purchasing an additional 1,162,837 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Kerry Wentworth sold 63,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total value of $379,260.00. Following the completion of the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at approximately $319,060. The trade was a 54.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal acquired 25,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the transaction, the director owned 225,000 shares in the company, valued at approximately $1,064,250. This represents a 12.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 335,668 shares of company stock valued at $2,128,495 in the last 90 days. 30.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of recent research reports. HC Wainwright upped their target price on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Cantor Fitzgerald began coverage on shares of Nuvation Bio in a research report on Friday, August 21st. They set an “overweight” rating for the company. B. Riley Financial restated a “buy” rating on shares of Nuvation Bio in a research note on Friday, August 7th. Truist Financial upped their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Nuvation Bio Stock Performance

NYSE NUVB opened at $6.94 on Thursday. The firm has a market capitalization of $2.44 billion, a P/E ratio of -15.77 and a beta of 1.52. The stock has a 50-day simple moving average of $6.21 and a two-hundred day simple moving average of $5.33. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. Nuvation Bio Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $9.75.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. On average, equities analysts forecast that Nuvation Bio Inc. will post -0.34 earnings per share for the current year.

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.