Kerry Wentworth Sells 63,000 Shares of Nuvation Bio (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 63,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total value of $379,260.00. Following the completion of the sale, the insider owned 53,000 shares of the company’s stock, valued at approximately $319,060. This trade represents a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kerry Wentworth also recently made the following trade(s):

• On Friday, April 17th, Kerry Wentworth sold 36,750 shares of Nuvation Bio stock. The shares were sold at an average price of $5.01, for a total value of $184,117.50.
• On Monday, April 6th, Kerry Wentworth sold 200,000 shares of Nuvation Bio stock. The shares were sold at an average price of $4.52, for a total value of $904,000.00.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB traded up $0.48 during trading on Wednesday, reaching $6.52. The stock had a trading volume of 9,424,487 shares, compared to its average volume of 4,353,571. The stock has a fifty day simple moving average of $4.91 and a two-hundred day simple moving average 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 Inc. has a 52 week low of $1.81 and a 52 week high of $9.75. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -15.16 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) 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 business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. As a group, analysts anticipate that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position 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 worth $24,270,000 after purchasing an additional 2,424,109 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Nuvation Bio by 359.2% during the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock worth $8,495,000 after purchasing an additional 1,796,000 shares during the period. Capricorn Fund Managers Ltd acquired a new position in shares of Nuvation Bio during the fourth quarter valued at about $14,236,000. Millennium Management LLC lifted its stake 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 period. Finally, SymBiosis Capital Partners LLC bought a new stake in shares of Nuvation Bio in the fourth quarter valued at about $11,200,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group lowered their price target on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average 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.