Nuvation Bio (NYSE:NUVB) Insider Gary Hattersley Sells 100,000 Shares

Nuvation Bio Inc. (NYSE:NUVB) insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the sale, the insider owned 100,000 shares of the company’s stock, valued at $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a 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 Stock Performance

NYSE:NUVB traded up $0.09 during mid-day trading on Friday, hitting $6.92. 6,030,254 shares of the company traded hands, compared to its average volume of 5,628,303. The stock’s fifty day moving average price is $6.07 and its 200-day moving average price is $5.30. Nuvation Bio Inc. has a one year low of $2.76 and a one year high of $9.75. The company has a quick ratio of 8.14, a current ratio of 8.37 and a debt-to-equity ratio of 0.96. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -15.73 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%.The firm had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. Research analysts anticipate that Nuvation Bio Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on NUVB. Cantor Fitzgerald assumed coverage on Nuvation Bio in a research note on Friday. They issued an “overweight” rating for the company. HC Wainwright lifted their price objective on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, July 27th. B. Riley Financial reissued a “buy” rating on shares of Nuvation Bio in a report on Friday, August 7th. Royal Bank Of Canada upped their target price 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. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio in the 2nd quarter worth approximately $25,000. Parallel Advisors LLC raised its holdings in Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares during the period. Cetera Investment Advisers bought a new stake in Nuvation Bio in the second quarter worth $29,000. Sanctuary Advisors LLC bought a new stake in Nuvation Bio in the second quarter worth $32,000. Finally, Captrust Financial Advisors purchased a new position in Nuvation Bio during the second quarter worth $32,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.