VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Nuvation Bio Inc. $NUVB

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Nuvation Bio Inc. (NYSE:NUVB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 110,000 shares of the company’s stock, valued at approximately $625,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in Nuvation Bio during the first quarter valued at approximately $2,399,000. Ishara Investments LP purchased a new stake in Nuvation Bio in the 4th quarter worth approximately $3,584,000. Arrowstreet Capital Limited Partnership boosted its position in Nuvation Bio by 75.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock worth $6,175,000 after purchasing an additional 619,725 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $3,804,000. Finally, California State Teachers Retirement System grew its stake in shares of Nuvation Bio by 42.2% during the 1st quarter. California State Teachers Retirement System now owns 303,784 shares of the company’s stock worth $1,303,000 after purchasing an additional 90,114 shares during the period. 61.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the transaction, the insider directly 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 document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of Nuvation Bio stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the sale, the insider owned 32,591 shares in the company, valued at approximately $196,523.73. This trade represents a 79.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 335,668 shares of company stock valued at $2,128,495. 30.11% of the stock is currently owned by company insiders.

Nuvation Bio Trading Down 2.5%

Shares of NUVB stock opened at $5.92 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -13.45 and a beta of 1.52. The stock has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $5.42. Nuvation Bio Inc. has a 1-year low of $2.99 and a 1-year high of $9.75.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on NUVB shares. Truist Financial boosted their target price on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. HC Wainwright raised their price target 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. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. B. Riley Financial reiterated a “buy” rating on shares of Nuvation Bio in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Nuvation Bio currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

About Nuvation Bio

Nuvation Bio Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with cancer. The company applies drug discovery, translational research and clinical development capabilities to pursue therapies for cancers with significant unmet medical needs.

Nuvation Bio’s pipeline has included investigational small-molecule oncology therapies, including NUV-422, a cyclin-dependent kinase inhibitor designed to target pathways involved in cancer cell growth.