Nuvation Bio (NYSE:NUVB) Insider Stacy Markel Sells 125,000 Shares

Nuvation Bio Inc. (NYSE:NUVB) insider Stacy Markel sold 125,000 shares of Nuvation Bio stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total value of $753,750.00. Following the completion of the transaction, the insider owned 32,591 shares in the company, valued at $196,523.73. The trade was a 79.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Stock Performance

NYSE:NUVB traded up $0.48 during mid-day trading on Wednesday, hitting $6.52. 9,424,487 shares of the company’s stock traded hands, compared to its average volume of 4,353,571. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -15.16 and a beta of 1.52. The firm has a 50 day moving average of $4.91 and a two-hundred day moving average of $5.74. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 12 month low of $1.81 and a 12 month high of $9.75.

Nuvation Bio (NYSE:NUVB) last issued 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 company had revenue of $83.23 million during the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. On average, equities analysts forecast that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on NUVB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Nuvation Bio currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently bought and sold shares of NUVB. Parallel Advisors LLC lifted its holdings in shares of Nuvation Bio by 51.9% during 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 during the period. Kestra Advisory Services LLC acquired a new position in Nuvation Bio in the fourth quarter worth about $71,000. KBC Group NV acquired a new position in Nuvation Bio in the first quarter worth about $37,000. Patriot Financial Group Insurance Agency LLC bought a new position in Nuvation Bio during the first quarter worth about $43,000. Finally, Swiss Life Asset Management Ltd bought a new position in Nuvation Bio during the third quarter worth about $39,000. Institutional investors own 61.67% of the company’s stock.

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.