Corient Private Wealth LLC Makes New $2.28 Million Investment in Nuvation Bio Inc. $NUVB

Corient Private Wealth LLC purchased a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) in the fourth quarter, HoldingsChannel reports. The firm purchased 254,103 shares of the company’s stock, valued at approximately $2,277,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NUVB. Invesco Ltd. lifted its holdings in shares of Nuvation Bio by 138.2% in the 4th quarter. Invesco Ltd. now owns 1,185,143 shares of the company’s stock worth $10,619,000 after acquiring an additional 687,597 shares during the last quarter. Beacon Pointe Advisors LLC increased its holdings in Nuvation Bio by 60.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 259,212 shares of the company’s stock valued at $2,323,000 after purchasing an additional 97,612 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Nuvation Bio in the fourth quarter valued at approximately $8,531,000. Voloridge Investment Management LLC purchased a new stake in Nuvation Bio in the fourth quarter valued at approximately $3,664,000. Finally, Virtus Investment Advisers LLC raised its position in Nuvation Bio by 29.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 81,068 shares of the company’s stock valued at $726,000 after purchasing an additional 18,202 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $5.61 on Monday. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 52-week low of $1.87 and a 52-week high of $9.75. The firm has a market cap of $1.95 billion, a PE ratio of -13.03 and a beta of 1.52. The company’s 50 day moving average is $4.94 and its two-hundred day moving average is $5.70.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. On average, research analysts expect that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.

Insider Transactions at Nuvation Bio

In related news, Director Robert Mashal purchased 25,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.73 per share, with a total value of $118,250.00. Following the transaction, the director directly owned 225,000 shares of the company’s stock, valued at approximately $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the sale, the chief financial officer directly owned 12,673 shares in the company, valued at $76,164.73. This represents a 79.00% decrease in their position. 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 522,418 shares of company stock valued at $2,758,612 in the last 90 days. Insiders own 30.11% of the company’s stock.

Analyst Ratings Changes

NUVB has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. UBS Group decreased their target price on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, Zacks Research downgraded 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 assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.