Nuvation Bio (NYSE:NUVB) Shares Up 13.3% – Should You Buy?

Nuvation Bio Inc. (NYSE:NUVB)’s stock price shot up 13.3% during trading on Thursday . The stock traded as high as $5.24 and last traded at $5.3470. 1,467,059 shares traded hands during trading, a decline of 69% from the average session volume of 4,753,150 shares. The stock had previously closed at $4.72.

Analysts Set New Price Targets

Several research firms have recently commented on NUVB. Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Nuvation Bio Stock Up 11.8%

The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -12.27 and a beta of 1.52. The business’s 50-day moving average is $4.65 and its 200-day moving average is $5.93. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 business had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. As a group, equities analysts predict that Nuvation Bio Inc. will post -0.64 earnings per share for the current year.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 50,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the transaction, the insider owned 18,000 shares in the company, valued at approximately $90,360. This represents a 73.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.01, for a total transaction of $184,117.50. Following the completion of the transaction, the insider owned 53,000 shares of the company’s stock, valued at approximately $265,530. This trade represents a 40.95% 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. In the last 90 days, insiders sold 286,750 shares of company stock worth $1,339,118. Insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its position in shares of Nuvation Bio by 8.3% in the first quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock worth $4,423,000 after acquiring an additional 78,946 shares during the period. Tanaka Capital Management Inc. raised its position in shares of Nuvation Bio by 7.2% in the first quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after acquiring an additional 60,220 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of Nuvation Bio in the first quarter worth about $187,000. Amundi raised its position in shares of Nuvation Bio by 181.5% in the first quarter. Amundi now owns 36,072 shares of the company’s stock worth $155,000 after acquiring an additional 23,258 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Nuvation Bio by 42.2% in the first quarter. California State Teachers Retirement System now owns 303,784 shares of the company’s stock worth $1,303,000 after acquiring an additional 90,114 shares during the period. 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.