Nuvation Bio Target of Unusually Large Options Trading (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) saw some unusual options trading activity on Monday. Investors bought 2,985 call options on the stock. This is an increase of 227% compared to the average volume of 913 call options.

Insider Activity

In other news, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the sale, the chief financial officer owned 12,673 shares in the company, valued at $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the stock in a transaction 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 sale, the insider owned 32,591 shares in the company, valued at approximately $196,523.73. This represents a 79.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 235,668 shares of company stock worth $1,419,495. Corporate insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tema ETFs LLC lifted its position in Nuvation Bio by 0.7% in the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after buying an additional 2,559 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Nuvation Bio during the second quarter valued at $732,000. NewEdge Advisors LLC increased its position in Nuvation Bio by 8.3% during the first quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock valued at $4,423,000 after acquiring an additional 78,946 shares during the last quarter. Tanaka Capital Management Inc. raised its stake in shares of Nuvation Bio by 7.2% in the first quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after acquiring an additional 60,220 shares during the period. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Nuvation Bio in the 1st quarter worth about $187,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Up 2.3%

Shares of NYSE:NUVB opened at $6.41 on Wednesday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -14.90 and a beta of 1.52. Nuvation Bio has a 12 month low of $2.18 and a 12 month high of $9.75. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $5.27 and a 200 day moving average price of $5.33.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data 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 company had revenue of $83.23 million for the quarter, compared to analysts’ expectations of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. As a group, equities research analysts predict that Nuvation Bio will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NUVB. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Royal Bank Of Canada cut their target price on shares of Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.38.

About Nuvation Bio

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.