Nuvation Bio Inc. (NYSE:NUVB) Shares Sold by Ikarian Capital LLC

Ikarian Capital LLC cut its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 76.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,282 shares of the company’s stock after selling 275,000 shares during the period. Ikarian Capital LLC’s holdings in Nuvation Bio were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after purchasing an additional 9,603 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after acquiring an additional 10,000 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nuvation Bio in the second quarter worth about $29,000. Xponance Inc. acquired a new position in shares of Nuvation Bio in the second quarter worth about $33,000. Finally, Caxton Associates LP acquired a new position in shares of Nuvation Bio in the second quarter worth about $43,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $220,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.07% of the stock is owned by corporate insiders.

Nuvation Bio Stock Up 2.8 %

Shares of NUVB traded up $0.08 during mid-day trading on Tuesday, hitting $2.98. 145,201 shares of the company were exchanged, compared to its average volume of 1,528,275. Nuvation Bio Inc. has a 1-year low of $1.27 and a 1-year high of $4.16. The company has a 50 day moving average of $2.50 and a 200-day moving average of $2.87.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. Sell-side analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NUVB has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Thursday, November 7th. HC Wainwright decreased their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada upped their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Profile

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.