Nuvation Bio (NYSE:NUVB) Stock Price Up 6.7% – Time to Buy?

Nuvation Bio Inc. (NYSE:NUVB)’s share price shot up 6.7% during mid-day trading on Tuesday . The stock traded as high as $6.79 and last traded at $6.9150. 4,384,558 shares changed hands during trading, a decline of 21% from the average daily volume of 5,569,339 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NUVB. B. Riley Financial reiterated a “buy” rating on shares of Nuvation Bio in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research report on Thursday, July 23rd. JPMorgan Chase & Co. assumed coverage on Nuvation Bio in a report on Tuesday. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Nuvation Bio Trading Up 7.1%

The business’s 50-day moving average price is $5.94 and its 200-day moving average price is $5.26. The firm has a market capitalization of $2.44 billion, a PE ratio of -15.65 and a beta of 1.52. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. As a group, analysts expect that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.73 per share, with a total value of $118,250.00. Following the completion of the acquisition, the director directly owned 225,000 shares in the company, valued at $1,064,250. This represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stacy Markel sold 125,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the completion of the transaction, the insider owned 32,591 shares in the company, valued at $196,523.73. This trade represents a 79.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 235,668 shares of company stock valued at $1,419,495 over the last ninety days. 30.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Nuvation Bio by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock valued at $139,378,000 after purchasing an additional 101,011 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Nuvation Bio by 19.9% during the third quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock worth $12,276,000 after purchasing an additional 551,508 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Nuvation Bio by 852.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock worth $24,270,000 after purchasing an additional 2,424,109 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Nuvation Bio by 95.7% during the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock worth $8,797,000 after purchasing an additional 1,162,837 shares during the period. 61.67% of the stock is owned by institutional investors and hedge funds.

About Nuvation Bio

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.