Key Points
- Insider sale: Gary Hattersley sold 100,000 Nuvation Bio shares for approximately $709,000 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 50% to 100,000 shares.
- Financial performance: Nuvation Bio reported a quarterly loss of $0.15 per share, slightly worse than estimates, although revenue of $31.69 million exceeded expectations. Analysts forecast a full-year loss of $0.34 per share.
- Analyst outlook: The stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $13 versus a recent price near $6.92; institutional investors own 61.67% of the company.
Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) insider Gary Hattersley sold 100,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider directly owned 100,000 shares in the company, valued at approximately $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nuvation Bio Trading Up 1.3%
Shares of NYSE:NUVB opened at $6.92 on Friday. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio Inc. has a 12-month low of $2.76 and a 12-month high of $9.75. The business has a 50 day moving average of $6.11 and a two-hundred day moving average of $5.31. The company has a market capitalization of $2.43 billion, a PE ratio of -15.73 and a beta of 1.52.
Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The firm had revenue of $31.69 million for the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. As a group, analysts forecast that Nuvation Bio Inc. will post -0.34 EPS for the current year.
Wall Street Analyst Weigh In
NUVB has been the topic of several analyst reports. Wedbush restated an "outperform" rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Citigroup reissued a "market outperform" rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. HC Wainwright raised 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. Finally, B. Riley Financial restated a "buy" rating on shares of Nuvation Bio in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $13.00.
Get Our Latest Analysis on NUVB
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Rangeley Capital LLC acquired a new stake in Nuvation Bio in the 2nd quarter valued at $25,000. Parallel Advisors LLC increased 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 acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new position in Nuvation Bio during the second quarter worth $29,000. Sanctuary Advisors LLC acquired a new position in Nuvation Bio during the second quarter worth $32,000. Finally, Captrust Financial Advisors purchased a new position in Nuvation Bio during the second quarter valued at $32,000. Hedge funds and other institutional investors 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.
Further Reading
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