Nuvation Bio Target of Unusually High Options Trading (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) was the recipient of unusually large options trading activity on Wednesday. Investors bought 11,651 call options on the company. This represents an increase of 362% compared to the typical volume of 2,520 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NUVB shares. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Nuvation Bio in a report on Monday, October 13th. B. Riley assumed coverage on shares of Nuvation Bio in a research report on Wednesday. They issued a “buy” rating and a $12.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. JMP Securities set a $8.00 price objective on Nuvation Bio in a research note on Tuesday, November 4th. Finally, Wall Street Zen upgraded Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Insider Activity

In related news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 29.93% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

Several institutional investors and hedge funds have recently bought and sold shares of NUVB. GSA Capital Partners LLP raised its holdings in Nuvation Bio by 172.9% in the 1st quarter. GSA Capital Partners LLP now owns 661,052 shares of the company’s stock valued at $1,163,000 after acquiring an additional 418,799 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Nuvation Bio by 424.9% during the 1st quarter. XTX Topco Ltd now owns 55,564 shares of the company’s stock worth $98,000 after acquiring an additional 44,979 shares during the period. Invesco Ltd. increased its stake in Nuvation Bio by 11.3% during the 1st quarter. Invesco Ltd. now owns 367,772 shares of the company’s stock worth $647,000 after buying an additional 37,384 shares during the period. Nuveen LLC bought a new stake in shares of Nuvation Bio in the 1st quarter worth approximately $799,000. Finally, American Century Companies Inc. raised its stake in shares of Nuvation Bio by 18.3% in the 1st quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock worth $856,000 after buying an additional 75,362 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Price Performance

NYSE NUVB traded up $2.07 during trading on Wednesday, reaching $6.87. The company’s stock had a trading volume of 26,086,329 shares, compared to its average volume of 5,305,783. The stock has a market capitalization of $2.36 billion, a PE ratio of -10.73 and a beta of 1.49. Nuvation Bio has a one year low of $1.54 and a one year high of $6.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39. The firm has a fifty day moving average of $4.04 and a 200 day moving average of $2.96.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. The company had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. Analysts expect that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Nuvation Bio Company 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.