Nuvation Bio Inc. $NUVB Shares Sold by Armistice Capital LLC

Armistice Capital LLC lowered its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 45.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,263,737 shares of the company’s stock after selling 1,032,263 shares during the quarter. Armistice Capital LLC owned approximately 0.37% of Nuvation Bio worth $11,323,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Nuvation Bio by 51.9% during the third 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 last quarter. Kestra Advisory Services LLC acquired a new stake in Nuvation Bio during the fourth quarter worth approximately $71,000. Swiss Life Asset Management Ltd acquired a new stake in Nuvation Bio during the third quarter worth approximately $39,000. Northwest Quadrant Wealth Management LLC acquired a new stake in Nuvation Bio during the third quarter worth approximately $40,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in Nuvation Bio during the fourth quarter worth approximately $100,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research note 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Insider Activity

In other news, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at $90,360. The trade was a 73.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of Nuvation Bio stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $4.52, for a total value of $904,000.00. Following the completion of the transaction, the insider directly owned 53,000 shares in the company, valued at $239,560. This represents a 79.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 286,750 shares of company stock valued at $1,339,118 in the last three months. Corporate insiders own 30.11% of the company’s stock.

Nuvation Bio Stock Up 4.2%

Shares of NYSE:NUVB opened at $5.33 on Thursday. The stock’s 50-day moving average price is $4.78 and its two-hundred day moving average price is $5.81. 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 $1.58 and a 12-month high of $9.75. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -12.40 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The firm had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. On average, research analysts forecast that Nuvation Bio Inc. will post -0.39 EPS for the current year.

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.