Nuvation Bio (NYSE:NUVB) Stock Price Down 5.1% – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) shares dropped 5.1% during mid-day trading on Friday. The stock traded as low as $5.26 and last traded at $5.2750. 7,436,077 shares were traded during mid-day trading, an increase of 36% from the average session volume of 5,461,921 shares. The stock had previously closed at $5.56.

Analysts Set New Price Targets

NUVB has been the subject of a number of research analyst reports. Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup assumed coverage on Nuvation Bio in a research report on Wednesday. They issued a “buy” rating and a $12.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of Nuvation Bio in a report on Friday, August 21st. They issued an “overweight” rating for the company. Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research note on Wednesday, September 16th. Finally, HC Wainwright lifted their price target on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and a consensus price target of $13.22.

Nuvation Bio Trading Down 6.0%

The business’s fifty day moving average is $6.38 and its 200-day moving average is $5.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. The firm has a market cap of $1.83 billion, a P/E ratio of -11.88 and a beta of 1.61.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%.The business had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. Analysts predict that Nuvation Bio Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In related news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider owned 100,000 shares of the company’s stock, valued at $709,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV bought a new stake in shares of Nuvation Bio in the 1st quarter valued at about $37,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Nuvation Bio during the first quarter worth about $43,000. Tortoise Investment Management LLC acquired a new position in shares of Nuvation Bio in the second quarter worth approximately $78,000. Revisor Wealth Management LLC lifted its stake in shares of Nuvation Bio by 40.3% in the first quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company’s stock worth $79,000 after acquiring an additional 5,317 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in Nuvation Bio in the second quarter valued at approximately $83,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses small-molecule drug discovery and development approaches to pursue therapies intended to address difficult-to-treat tumors and areas of significant unmet medical need.

Nuvation Bio’s pipeline has included NUV-868, an oral investigational inhibitor of DYRK1A being studied in solid tumors, and NUV-1511, an investigational oncology drug designed to interfere with cancer-cell DNA damage response mechanisms.