Key Points
- Kerry Wentworth sold 200,000 NUVB shares at $4.52 each for about $904,000, reducing her direct stake to 53,000 shares (a 79.05% drop); the transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Nuvation Bio reported revenue of $41.87 million (above the $36.82M consensus) and EPS of ($0.11) in line with estimates, the company has a $1.57 billion market cap and a consensus analyst rating of "Moderate Buy" with a $11.63 target price.
- Institutional ownership is 61.67%, with major managers like Vanguard, Millennium and Price T. Rowe notably increasing stakes, indicating strong institutional interest despite mixed analyst views.
Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) insider Kerry Wentworth sold 200,000 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $4.52, for a total value of $904,000.00. Following the sale, the insider directly owned 53,000 shares of the company's stock, valued at approximately $239,560. This represents a 79.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nuvation Bio Trading Up 0.3%
Shares of NYSE NUVB opened at $4.52 on Thursday. Nuvation Bio Inc. has a 12 month low of $1.57 and a 12 month high of $9.75. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -7.54 and a beta of 1.60. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $5.00 and a 200-day simple moving average of $5.76.
Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%.The business had revenue of $41.87 million during the quarter, compared to the consensus estimate of $36.82 million. Sell-side analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current year.
Institutional Investors Weigh In On Nuvation Bio
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Nuvation Bio by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company's stock worth $139,378,000 after purchasing an additional 101,011 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nuvation Bio by 52.4% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Nuvation Bio by 19.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company's stock worth $12,276,000 after purchasing an additional 551,508 shares in the last quarter. Aisling Capital Management LP raised its stake in shares of Nuvation Bio by 16.5% during the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company's stock worth $10,954,000 after purchasing an additional 419,650 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 purchasing an additional 2,424,109 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on NUVB shares. UBS Group reduced their price objective on Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Truist Financial set a $13.00 price objective on Nuvation Bio in a research note on Tuesday, January 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. HC Wainwright reduced their price objective on Nuvation Bio from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, January 12th. Finally, Wedbush reissued an "outperform" rating and issued a $11.00 price objective on shares of Nuvation Bio in a research note on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.63.
View Our Latest Research Report on NUVB
About Nuvation Bio
(
Get Free Report)
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.
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