Kerry Wentworth Sells 63,000 Shares of Nuvation Bio (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Kerry Wentworth sold 63,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total value of $379,260.00. Following the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at $319,060. This trade represents a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kerry Wentworth also recently made the following trade(s):

• On Friday, April 17th, Kerry Wentworth sold 36,750 shares of Nuvation Bio stock. The stock was sold at an average price of $5.01, for a total value of $184,117.50.
• On Monday, April 6th, Kerry Wentworth sold 200,000 shares of Nuvation Bio stock. The shares were sold at an average price of $4.52, for a total value of $904,000.00.

Nuvation Bio Price Performance

Shares of NUVB opened at $5.82 on Friday. The company has a market cap of $2.02 billion, a P/E ratio of -13.52 and a beta of 1.52. The stock has a fifty day moving average price of $4.93 and a 200 day moving average price of $5.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24. 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 earnings results on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million for 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, research analysts forecast that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

NUVB has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group decreased their price objective on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Trading of Nuvation Bio

A number of institutional investors have recently made changes to their positions in NUVB. Rangeley Capital LLC bought a new position in shares of Nuvation Bio in the second quarter valued at approximately $25,000. Parallel Advisors LLC raised its holdings 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 purchasing an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Nuvation Bio in the second quarter worth approximately $29,000. Captrust Financial Advisors bought a new position in Nuvation Bio during the 2nd quarter valued at $32,000. Finally, KBC Group NV bought a new position in Nuvation Bio during the 1st quarter valued at $37,000. 61.67% of the stock is owned by institutional investors and hedge funds.

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.