Insider Selling: Nuvation Bio (NYSE:NUVB) Insider Sells 10,000 Shares of Stock

by · The Cerbat Gem

Nuvation Bio Inc. (NYSE:NUVB – Get Free Report) insider Dongfang Liu sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the transaction, the insider owned 18,000 shares in the company, valued at $144,000. The trade was a 35.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 value of $76,500.00.
  • 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 value of $76,500.00.
  • On Monday, November 17th, Dongfang Liu sold 15,000 shares of Nuvation Bio stock. The shares were sold at an average price of $4.76, for a total value of $71,400.00.
  • 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 value of $71,400.00.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock traded up $0.12 on Wednesday, hitting $8.00. The company’s stock had a trading volume of 6,971,867 shares, compared to its average volume of 5,588,386. The company has a market capitalization of $2.74 billion, a P/E ratio of -12.49 and a beta of 1.50. Nuvation Bio Inc. has a 52-week low of $1.54 and a 52-week high of $8.24. The firm has a fifty day moving average price of $4.44 and a 200-day moving average price of $3.14. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB – Get Free Report) last announced its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The company had revenue of $13.12 million during the quarter, compared to analysts’ expectations of $7.48 million. On average, equities research analysts expect that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a research report on Monday, October 13th. B. Riley started coverage on Nuvation Bio in a research report on Wednesday, November 19th. They set a “buy” rating and a $12.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Nuvation Bio in a research note on Friday, September 19th. Royal Bank Of Canada raised their price target on shares of Nuvation Bio from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Get Our Latest Report on NUVB

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NUVB. CIBC Bancorp USA Inc. purchased a new stake in Nuvation Bio in the third quarter valued at approximately $98,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 purchasing an additional 35,568 shares during the last quarter. Connective Capital Management LLC acquired a new position in shares of Nuvation Bio in the 3rd quarter valued at $369,000. Armistice Capital LLC grew its stake in shares of 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 buying an additional 1,796,000 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth $711,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

About Nuvation Bio

(Get Free Report)

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.

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