ACT Capital Management LLC Takes Position in Nuvation Bio Inc. $NUVB

ACT Capital Management LLC purchased a new stake in Nuvation Bio Inc. (NYSE:NUVB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 610,500 shares of the company’s stock, valued at approximately $5,470,000. Nuvation Bio makes up approximately 4.4% of ACT Capital Management LLC’s portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of NUVB. Price T Rowe Associates Inc. MD grew its stake in shares of Nuvation Bio by 852.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock valued at $24,270,000 after acquiring an additional 2,424,109 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Nuvation Bio by 359.2% in the third quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after acquiring an additional 1,796,000 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new stake in Nuvation Bio during the fourth quarter worth about $14,236,000. Millennium Management LLC grew its stake in Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after buying an additional 1,298,131 shares in the last quarter. Finally, SymBiosis Capital Partners LLC acquired a new stake in Nuvation Bio during the fourth quarter worth about $11,200,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Trading Up 4.2%

NUVB opened at $5.33 on Thursday. The company’s 50 day moving average is $4.78 and its 200-day moving average is $5.81. Nuvation Bio Inc. has a 1-year low of $1.58 and a 1-year high of $9.75. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.86 billion, a P/E ratio of -12.40 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Equities research analysts predict that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kerry Wentworth sold 36,750 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.01, for a total transaction of $184,117.50. Following the sale, the insider directly owned 53,000 shares in the company, valued at $265,530. This trade represents a 40.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the transaction, the director owned 225,000 shares in the company, valued at $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 286,750 shares of company stock worth $1,339,118. Corporate insiders own 30.11% of the company’s stock.

Analysts Set New Price Targets

NUVB has been the topic of a number of analyst reports. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group reduced their price objective on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Finally, Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nuvation Bio currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Nuvation Bio 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.