Key Points
- Director Robert Mashal bought 25,000 shares of Nuvation Bio at an average price of $4.73, totaling $118,250. After the purchase, he owned 225,000 shares, a 12.5% increase in his stake.
- The company recently reported better-than-expected quarterly results, posting EPS of $0.01 versus an expected loss and revenue of $83.23 million versus estimates of $66.22 million.
- Analysts are mixed but generally constructive: Nuvation Bio has a Moderate Buy consensus, with a $12.50 average price target, while current shares were trading around $4.78.
Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) Director Robert Mashal purchased 25,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 $1,064,250. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Nuvation Bio Stock Performance
Shares of NYSE:NUVB opened at $4.78 on Friday. The stock has a market capitalization of $1.66 billion, a P/E ratio of -11.10 and a beta of 1.52. Nuvation Bio Inc. has a 1-year low of $1.57 and a 1-year high of $9.75. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $4.72 and a two-hundred day moving average price of $5.89.
Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million during the quarter, compared to analysts' expectations 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 predict that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have weighed in on the company. HC Wainwright reissued a "buy" rating and set a $17.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. UBS Group dropped their price objective on Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Wedbush reissued an "outperform" rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $20.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, Citigroup reissued a "market outperform" rating on shares of Nuvation Bio in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Nuvation Bio presently has an average rating of "Moderate Buy" and a consensus target price of $12.50.
Read Our Latest Report on NUVB
Institutional Trading of Nuvation Bio
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake 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 increased its stake in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after acquiring an additional 1,298,131 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Nuvation Bio by 19.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company's stock valued at $12,276,000 after acquiring an additional 551,508 shares during the last quarter. Aisling Capital Management LP increased its stake in shares of Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company's stock valued at $10,954,000 after acquiring an additional 419,650 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Nuvation Bio by 852.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company's stock valued at $24,270,000 after acquiring an additional 2,424,109 shares during the last quarter. 61.67% of the stock is owned by institutional investors.
Nuvation Bio Company Profile
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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.
Further Reading
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