Robert Mashal Purchases 25,000 Shares of Nuvation Bio (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) Director Robert Mashal purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $4.73 per share, with a total value of $118,250.00. Following the completion of the purchase, the director directly owned 225,000 shares of the company’s stock, valued at approximately $1,064,250. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Nuvation Bio Stock Up 3.0%

NYSE:NUVB opened at $4.91 on Friday. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.41 and a beta of 1.52. Nuvation Bio Inc. has a one year low of $1.57 and a one year high of $9.75. The stock has a 50-day simple moving average of $4.73 and a 200 day simple moving average of $5.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44.

Nuvation Bio (NYSE:NUVB) last posted its quarterly 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. The business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. Sell-side analysts predict that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in Nuvation Bio by 8.3% in the first quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock valued at $4,423,000 after acquiring an additional 78,946 shares during the period. Tanaka Capital Management Inc. boosted its stake in Nuvation Bio by 7.2% in the first quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after acquiring an additional 60,220 shares during the period. ADAR1 Capital Management LLC acquired a new position in Nuvation Bio in the first quarter valued at approximately $187,000. Amundi boosted its stake in Nuvation Bio by 181.5% in the first quarter. Amundi now owns 36,072 shares of the company’s stock valued at $155,000 after acquiring an additional 23,258 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Nuvation Bio by 42.2% in the first quarter. California State Teachers Retirement System now owns 303,784 shares of the company’s stock valued at $1,303,000 after acquiring an additional 90,114 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NUVB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group decreased their price target on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Zacks Research downgraded Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Finally, Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Nuvation Bio Company Profile

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.