Virtus Investment Advisers LLC Sells 10,469 Shares of Nuvation Bio Inc. $NUVB

Virtus Investment Advisers LLC trimmed its position in Nuvation Bio Inc. (NYSE:NUVB) by 16.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 51,952 shares of the company’s stock after selling 10,469 shares during the period. Virtus Investment Advisers LLC’s holdings in Nuvation Bio were worth $101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUVB. Exome Asset Management LLC bought a new position in shares of Nuvation Bio in the first quarter worth $170,000. American Century Companies Inc. raised its stake in shares of Nuvation Bio by 18.3% during the 1st quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock valued at $856,000 after purchasing an additional 75,362 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth about $207,000. AWM Investment Company Inc. bought a new position in Nuvation Bio in the 1st quarter worth about $1,144,000. Finally, Brighton Jones LLC purchased a new position in Nuvation Bio during the 2nd quarter valued at about $120,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

NYSE:NUVB opened at $8.05 on Friday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -12.58 and a beta of 1.50. The business has a 50 day moving average of $4.73 and a 200 day moving average of $3.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $8.24.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $13.12 million for the quarter, compared to analysts’ expectations of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. On average, sell-side analysts predict that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dongfang Liu sold 15,000 shares of Nuvation Bio stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $5.10, for a total transaction of $76,500.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $91,800. This trade represents a 45.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 170,000 shares of company stock valued at $877,800. 29.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NUVB shares. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. Truist Financial set a $11.00 target price on shares of Nuvation Bio in a report on Monday, November 24th. Royal Bank Of Canada raised their price target on shares of Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. JMP Securities set a $10.00 price target on shares of Nuvation Bio in a research report on Thursday, November 20th. Finally, B. Riley began coverage on Nuvation Bio in a research report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has 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 $9.67.

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.