Investors Purchase High Volume of Nuvation Bio Call Options (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) was the target of some unusual options trading on Monday. Stock traders purchased 2,985 call options on the company. This represents an increase of 227% compared to the average daily volume of 913 call options.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB traded up $0.61 during mid-day trading on Monday, reaching $6.41. 4,532,626 shares of the company traded hands, compared to its average volume of 5,465,822. The company’s 50 day moving average price is $5.21 and its 200-day moving average price is $5.36. The firm has a market cap of $2.23 billion, a PE ratio of -14.67 and a beta of 1.52. Nuvation Bio has a 52 week low of $2.18 and a 52 week high of $9.75. 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 (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $83.23 million for the quarter, compared to analysts’ expectations of $66.22 million. On average, equities analysts expect that Nuvation Bio will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NUVB has been the subject of a number of research reports. Truist Financial upped their target price on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Royal Bank Of Canada dropped their price target on shares of Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

Insider Buying and Selling at Nuvation Bio

In other news, CFO Philippe Sauvage sold 47,668 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the sale, the chief financial officer owned 12,673 shares of the company’s stock, valued at $76,164.73. This represents a 79.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal acquired 25,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the purchase, the director directly owned 225,000 shares in the company, valued at approximately $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 235,668 shares of company stock worth $1,419,495 over the last 90 days. 30.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Parallel Advisors LLC increased its stake in 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 buying an additional 2,597 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Nuvation Bio in the fourth quarter valued at about $71,000. KBC Group NV purchased a new position in shares of Nuvation Bio in the first quarter valued at about $37,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Nuvation Bio in the first quarter worth about $43,000. Finally, Swiss Life Asset Management Ltd bought a new position in shares of Nuvation Bio in the third quarter worth about $39,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.