Nuvation Bio Sees Unusually Large Options Volume (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) saw some unusual options trading on Wednesday. Investors acquired 44,799 call options on the company. This represents an increase of approximately 1,415% compared to the typical daily volume of 2,957 call options.

Insiders Place Their Bets

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction on Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Dongfang Liu sold 150,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the completion of the sale, the insider owned 18,000 shares of the company’s stock, valued at $140,760. This trade represents a 89.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 320,000 shares of company stock worth $2,050,800 in the last 90 days. 29.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NUVB. Highline Wealth Partners LLC acquired a new stake in shares of Nuvation Bio in the second quarter valued at $25,000. Rangeley Capital LLC purchased a new position in Nuvation Bio during the 2nd quarter valued at about $25,000. Parallel Advisors LLC grew its position in Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Nuvation Bio during the second quarter worth about $29,000. Finally, Captrust Financial Advisors purchased a new stake in Nuvation Bio during the second quarter worth about $32,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NUVB has been the subject of a number of analyst reports. HC Wainwright upped their price target on Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Truist Financial set a $11.00 target price on Nuvation Bio in a research note on Monday, November 24th. Citizens Jmp lifted their price target on Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Wednesday, October 8th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Nuvation Bio has an average rating of “Moderate Buy” and an average price target of $10.56.

Nuvation Bio Trading Down 1.7%

Shares of NUVB traded down $0.15 during trading on Wednesday, reaching $8.52. 5,172,912 shares of the company traded hands, compared to its average volume of 5,605,226. The stock has a 50-day simple moving average of $5.88 and a 200-day simple moving average of $3.77. The stock has a market cap of $2.92 billion, a PE ratio of -13.30 and a beta of 1.58. Nuvation Bio has a twelve month low of $1.54 and a twelve month high of $8.95. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

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

About Nuvation Bio

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.