Nuvation Bio (NYSE:NUVB) Stock Price Down 4.2% – Here’s Why

Nuvation Bio Inc. (NYSE:NUVB) shares were down 4.2% on Thursday . The company traded as low as $5.97 and last traded at $5.8940. Approximately 4,946,412 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 6,855,275 shares. The stock had previously closed at $6.15.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NUVB shares. Truist Financial set a $11.00 price objective on shares of Nuvation Bio in a research report on Monday, November 24th. JMP Securities set a $10.00 target price on Nuvation Bio in a report on Thursday, November 20th. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of Nuvation Bio in a research note on Monday, October 13th. B. Riley started coverage on Nuvation Bio in a report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Royal Bank Of Canada increased their price objective on Nuvation Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Nuvation Bio Price Performance

The stock has a market capitalization of $1.91 billion, a P/E ratio of -8.70 and a beta of 1.54. 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 company’s 50-day simple moving average is $7.82 and its 200-day simple moving average is $4.89.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. As a group, sell-side analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this link. Also, insider Dongfang Liu sold 150,000 shares of Nuvation Bio stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider owned 18,000 shares of the company’s stock, valued at $140,760. This represents a 89.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 320,000 shares of company stock worth $2,050,800. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

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