Kornitzer Capital Management Inc. KS acquired a new position in shares of Nuvation Bio Inc. (NYSE:NUVB – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 147,875 shares of the company’s stock, valued at approximately $634,000.
Other institutional investors also recently bought and sold shares of the company. Capricorn Fund Managers Ltd acquired a new position in shares of Nuvation Bio during the 4th quarter worth $14,236,000. JPMorgan Chase & Co. grew its stake in Nuvation Bio by 472.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after acquiring an additional 557,656 shares during the last quarter. Ishara Investments LP purchased a new position in Nuvation Bio during the 4th quarter valued at about $3,584,000. ACT Capital Management LLC purchased a new stake in shares of Nuvation Bio in the fourth quarter valued at about $5,470,000. Finally, AMI Asset Management Corp acquired a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $1,133,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Wedbush reissued an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nuvation Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.38.
Nuvation Bio Stock Performance
Nuvation Bio stock opened at $5.78 on Tuesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of -13.43 and a beta of 1.52. The stock has a fifty day moving average price of $5.14 and a 200 day moving average price of $5.47. Nuvation Bio Inc. has a 52 week low of $2.06 and a 52 week 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.
Nuvation Bio (NYSE:NUVB – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The firm had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Equities research analysts anticipate that Nuvation Bio Inc. will post -0.39 earnings per share for the current year.
Insider Activity
In other news, Director Robert Mashal bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $4.73 per share, with a total value of $118,250.00. Following the transaction, the director owned 225,000 shares of the company’s stock, valued at $1,064,250. This represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stacy Markel sold 125,000 shares of the business’s stock in a transaction dated 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 directly owned 32,591 shares of the company’s stock, valued at approximately $196,523.73. This trade represents a 79.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 322,418 shares of company stock valued at $1,854,612 in the last ninety days. 30.11% of the stock is owned by company insiders.
Nuvation Bio Profile
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.
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