AXQ Capital LP Sells 105,961 Shares of Nuvation Bio Inc. $NUVB

AXQ Capital LP trimmed its position in Nuvation Bio Inc. (NYSE:NUVB) by 90.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,649 shares of the company’s stock after selling 105,961 shares during the quarter. AXQ Capital LP’s holdings in Nuvation Bio were worth $104,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NUVB. Capricorn Fund Managers Ltd acquired a new position in Nuvation Bio during the 4th quarter worth approximately $14,236,000. JPMorgan Chase & Co. boosted its position in Nuvation Bio by 472.8% in the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after buying an additional 557,656 shares in the last quarter. Aisling Capital Management LP boosted its position in Nuvation Bio by 16.5% in the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after buying an additional 419,650 shares in the last quarter. NEOS Investment Management LLC grew its stake in shares of Nuvation Bio by 80.8% during the third quarter. NEOS Investment Management LLC now owns 252,522 shares of the company’s stock worth $934,000 after buying an additional 112,874 shares during the last quarter. Finally, AMI Asset Management Corp bought a new stake in shares of Nuvation Bio during the fourth quarter worth $1,133,000. Institutional investors own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NUVB shares. UBS Group dropped their price target on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Wedbush reissued an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Insider Transactions at Nuvation Bio

In related news, insider Kerry Wentworth sold 36,750 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.01, for a total value of $184,117.50. Following the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at $265,530. The trade was a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the sale, the insider owned 18,000 shares in the company, valued at $90,360. The trade was a 73.53% 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 sold a total of 286,750 shares of company stock worth $1,339,118 in the last quarter. Corporate insiders own 30.11% of the company’s stock.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $4.82 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. Nuvation Bio Inc. has a 52 week low of $1.57 and a 52 week high of $9.75. The firm has a market cap of $1.68 billion, a PE ratio of -11.20 and a beta of 1.52. The firm’s fifty day moving average is $4.68 and its 200-day moving average is $5.94.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data 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. The business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. Sell-side analysts predict that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.

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.