# Nuvation Bio Inc. (NUVB)

> Source: Nexqual · https://nexqual.com/NUVB · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Nuvation Bio Inc. (NUVB), nexqual.com/NUVB" · informational, not investment advice.

**Price:** USD 4.75 (+1.50% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 4.68 · day 4.67–4.86 · 52w 3.36–9.75 · market cap $1.67B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $170M, net income -$150M (-88.2% margin) (SEC filings).
- 2 of 80 tracked superinvestors hold NUVB (13F, Q2 2026): 0 new, 0 added, 0 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $3.5M; 0 not under a Rule 10b5-1 plan ($0K).
- Analysts: Buy (mean 1.85 on a 1–5 scale) (13 analysts), mean target USD 13 (range 7–21).
- Total return with dividends: 1Y +30.9% vs S&P 500 +18.1%; 5Y -50.3% vs S&P 500 +85.1%.
- Next earnings: 2026-11-02, EPS estimate USD -0.09, revenue estimate $34.8M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2024 | FY2025 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | — | — | $0K | $7.9M | $62.9M | $170M |
| Gross profit | — | — | $0K | $795K | — | — |
| Operating income | -$93.3M | -$120M | -$99.8M | -$593M | -$213M | -$138M |
| Net income | -$86.8M | -$104M | -$75.8M | -$568M | -$205M | -$150M |
| EPS (diluted) | -$0.44 | -$0.48 | -$0.35 | -$2.11 | -$0.60 | — |
| Free cash flow | — | — | — | -$130M | -$181M | — |
| Gross margin | — | — | — | 10.1% | — | — |
| Operating margin | — | — | — | -7527.3% | -338.7% | -81.0% |
| Net margin | — | — | — | -7213.8% | -325.3% | -88.2% |
| Revenue growth | — | — | — | — | +699.0% | — |
| Cash + short-term investments | $765M | $661M | $611M | $503M | $529M | — |
| Total debt | — | — | — | — | $52.9M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 9.8x · EV/Sales 7.4x · P/B 6.6x · Earnings yield -8.98% · Net cash $412M · EV $1.26B

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold NUVB. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Abrams | Abrams Capital Management | 0.13% | $7.2M | Unchanged |
| David Einhorn | Greenlight Capital | 0.01% | $199K | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
7 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan |
|---|---|---|---|---|---|---|
| 2026-08-19 | Hattersley Gary | CHIEF SCIENTIFIC OFFICER | 100,000 | $709K | 100% | Yes |
| 2026-06-23 | Markel Stacy | CHIEF PEOPLE OFFICER | 125,000 | $753K | 79.3% | Yes |
| 2026-06-23 | Wentworth Kerry | CHIEF REGULATORY OFFICER | 63,000 | $379K | 54.3% | Yes |
| 2026-06-23 | Sauvage Philippe | Chief Financial Officer | 47,668 | $286K | 79% | Yes |
| 2026-04-17 | Wentworth Kerry | CHIEF REGULATORY OFFICER | 36,750 | $184K | 40.9% | Yes |
| 2026-04-17 | Liu Dongfang | CHIEF MEDICAL OFFICER | 50,000 | $251K | 73.5% | Yes |
| 2026-04-06 | Wentworth Kerry | CHIEF REGULATORY OFFICER | 200,000 | $904K | 79.1% | Yes |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

## Analysts
Consensus Buy (mean 1.85 on a 1–5 scale), 13 analysts; mean target USD 13 (low 7, high 21).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | Citigroup | Initiated | Buy | $12 |
| 2026-09-16 | Citizens | Reiterated | Market Outperform | $10 |
| 2026-09-16 | Wedbush | Reiterated | Outperform | $11 |
| 2026-08-21 | Cantor Fitzgerald | Initiated | Overweight |  |
| 2026-08-18 | JP Morgan | Initiated | Overweight | $13 |
| 2026-08-07 | RBC Capital | Target raised | Outperform | $19 → $20 |
| 2026-07-27 | HC Wainwright & Co. | Target raised | Buy | $17 → $21 |
| 2026-07-23 | Wedbush | Reiterated | Outperform | $11 |
| 2026-07-07 | RBC Capital | Target lowered | Outperform | $20 → $19 |
| 2026-07-07 | Truist Securities | Target raised | Buy | $12 → $13 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +30.9% | -50.3% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +31.0% | -13.0% |
| Volatility (annualized) | 81.0% | 74.5% |
| Max drawdown | -57.5% (Dec 2025→Mar 2026) | -89.3% (Oct 2021→Oct 2023) |

## Peers (Biotechnology)
RYTM (Rhythm Pharmaceuticals, Inc.) USD 87.97 +1.57% · BLTE (Belite Bio, Inc) USD 152.62 +0.49% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.72 +1.52% · PRAX (Praxis Precision Medicines, Inc) USD 248.24 +2.01% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.12 +4.11% · SYRE (Spyre Therapeutics, Inc.) USD 80.1 -0.44%

## More
Full page: https://nexqual.com/NUVB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt