Stacy Markel Sells 125,000 Shares of Nuvation Bio (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Stacy Markel sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the transaction, the insider directly owned 32,591 shares in the company, valued at approximately $196,523.73. This represents a 79.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nuvation Bio Price Performance

Shares of NUVB stock opened at $5.82 on Friday. The stock has a 50 day moving average price of $4.93 and a 200 day moving average price of $5.72. Nuvation Bio Inc. has a 52-week low of $1.81 and a 52-week high of $9.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The firm has a market capitalization of $2.02 billion, a P/E ratio of -13.52 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating the consensus estimate 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 company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. As a group, sell-side analysts predict that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.

Institutional Trading of Nuvation Bio

Hedge funds have recently bought and sold shares of the stock. Rangeley Capital LLC bought a new stake in Nuvation Bio during the 2nd quarter valued at $25,000. Parallel Advisors LLC raised its position in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Nuvation Bio during the 2nd quarter worth $29,000. Captrust Financial Advisors purchased a new stake in shares of Nuvation Bio during the 2nd quarter worth $32,000. Finally, KBC Group NV bought a new stake in Nuvation Bio during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Zacks Research lowered shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.50.

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.