Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells 15,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Dongfang Liu sold 15,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $4.76, for a total transaction of $71,400.00. Following the sale, the insider owned 15,000 shares of the company’s stock, valued at approximately $71,400. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dongfang Liu also recently made the following trade(s):

• On Wednesday, November 19th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The stock was sold at an average price of $5.10, for a total transaction of $76,500.00.
• On Wednesday, November 19th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The shares were sold at an average price of $5.10, for a total transaction of $76,500.00.
• On Monday, November 17th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The stock was sold at an average price of $4.76, for a total transaction of $71,400.00.

Nuvation Bio Stock Performance

NYSE NUVB traded up $2.35 during trading hours on Wednesday, reaching $7.15. The company’s stock had a trading volume of 58,912,933 shares, compared to its average volume of 5,464,649. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $2.96. Nuvation Bio Inc. has a 52 week low of $1.54 and a 52 week high of $7.35. The stock has a market cap of $2.45 billion, a PE ratio of -11.17 and a beta of 1.49.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. The company had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. Equities research analysts predict that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NUVB. Citizens Jmp increased their target price on Nuvation Bio from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 4th. JMP Securities set a $8.00 price target on shares of Nuvation Bio in a research note on Tuesday, November 4th. Wall Street Zen upgraded shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Nuvation Bio in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Nuvation Bio by 811.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock valued at $148,000 after acquiring an additional 35,568 shares in the last quarter. Connective Capital Management LLC purchased a new position in Nuvation Bio during the 3rd quarter worth approximately $369,000. Armistice Capital LLC raised its stake in Nuvation Bio by 359.2% during the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after purchasing an additional 1,796,000 shares during the period. Caxton Associates LLP purchased a new stake in shares of Nuvation Bio in the third quarter valued at $711,000. Finally, Woodline Partners LP acquired a new stake in shares of Nuvation Bio in the third quarter worth $3,535,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.