Philippe Sauvage Sells 47,668 Shares of Nuvation Bio (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) CFO Philippe Sauvage sold 47,668 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the transaction, the chief financial officer directly owned 12,673 shares in the company, valued at $76,164.73. This trade represents a 79.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB traded up $0.48 during mid-day trading on Wednesday, reaching $6.52. 9,424,487 shares of the company traded hands, compared to its average volume of 4,353,571. The company’s 50 day moving average price is $4.91 and its 200-day moving average price is $5.74. The firm has a market cap of $2.27 billion, a PE 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 company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $66.22 million. On average, equities analysts expect that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock worth $191,000 after acquiring an additional 4,608 shares during the last quarter. Millennium Management LLC increased its holdings in 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. Envestnet Asset Management Inc. bought a new stake in Nuvation Bio in the 2nd quarter valued at $92,000. Creative Planning lifted its stake in Nuvation Bio by 267.1% in the 2nd quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after purchasing an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Nuvation Bio in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NUVB shares. Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.