Key Points
- Nuvation Bio insider Stacy Markel sold 125,000 shares on June 23 at an average price of $6.03, totaling $753,750. The sale cut the insider’s holdings by 79.32% and was made under a pre-arranged Rule 10b5-1 plan.
- The company recently reported better-than-expected first-quarter results, posting EPS of $0.01 versus analyst estimates for a loss of $0.03, and revenue of $83.23 million versus $66.22 million expected. Despite the beat, Nuvation Bio remains unprofitable with a negative net margin and return on equity.
- Wall Street remains mostly constructive on NUVB, with eight Buy ratings and an average price target of $12.50. However, opinions are mixed, as some firms have recently downgraded or reiterated Sell ratings.
Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) 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 transaction, the chief financial officer owned 12,673 shares of the company's stock, valued at $76,164.73. This represents a 79.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 52 week low of $1.81 and a 52 week high of $9.75. The firm has a 50-day moving average price of $4.91 and a 200 day moving average price of $5.74. 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 - Get Free Report) last issued its earnings results 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. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The company had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Equities research analysts anticipate that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently weighed in on NUVB. Royal Bank Of Canada restated an "outperform" rating and issued a $20.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Wedbush reiterated an "outperform" rating and set a $11.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. Zacks Research lowered Nuvation Bio from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 26th. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, UBS Group dropped their price target on Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.50.
Read Our Latest Research Report on Nuvation Bio
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in NUVB. Price T Rowe Associates Inc. MD lifted its holdings in 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 purchasing an additional 2,424,109 shares in the last quarter. Armistice Capital LLC grew its holdings in shares of Nuvation Bio by 359.2% during the third quarter. Armistice Capital LLC now owns 2,296,000 shares of the company's stock worth $8,495,000 after buying an additional 1,796,000 shares in the last quarter. Capricorn Fund Managers Ltd purchased a new stake in shares of Nuvation Bio during the fourth quarter worth about $14,236,000. Millennium Management LLC raised its position 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 buying an additional 1,298,131 shares during the last quarter. Finally, SymBiosis Capital Partners LLC acquired a new position in shares of Nuvation Bio in the fourth quarter valued at approximately $11,200,000. Institutional investors and hedge funds own 61.67% of the company's stock.
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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