Nuvation Bio (NYSE:NUVB) Shares Down 6.8% – Time to Sell?

Nuvation Bio Inc. (NYSE:NUVB)’s share price was down 6.8% during trading on Wednesday . The stock traded as low as $4.62 and last traded at $4.5930. Approximately 3,124,024 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,802,470 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

NUVB has been the subject of a number of research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday. UBS Group decreased their target price on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Zacks Research lowered shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Nuvation Bio presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Nuvation Bio Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The firm’s 50 day moving average is $4.70 and its 200-day moving average is $5.92. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -10.76 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. Sell-side analysts anticipate that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In related news, insider Dongfang Liu sold 50,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $90,360. The trade was a 73.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $4.52, for a total value of $904,000.00. Following the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at $239,560. This represents a 79.05% 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 sold 286,750 shares of company stock worth $1,339,118 over the last quarter. 30.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently made changes to their positions in the business. HighTower Advisors LLC lifted its position in shares of Nuvation Bio by 9.8% during the 4th quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock worth $201,000 after purchasing an additional 2,007 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after purchasing an additional 2,597 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Nuvation Bio by 17.7% during the 4th quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock worth $219,000 after purchasing an additional 3,681 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Nuvation Bio by 3.8% during the 4th quarter. Meridian Wealth Management LLC now owns 113,565 shares of the company’s stock worth $1,018,000 after purchasing an additional 4,200 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Nuvation Bio by 38.8% during the third quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock valued at $58,000 after buying an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Company 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.