Nuvation Bio (NYSE:NUVB) Shares Down 6.8% – Time to Sell?

Nuvation Bio Inc. (NYSE:NUVB)’s stock price dropped 6.8% on Wednesday . The company traded as low as $4.62 and last traded at $4.5930. Approximately 3,124,024 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 4,802,470 shares. The stock had previously closed at $4.93.

Analysts Set New Price Targets

NUVB has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Finally, Wedbush restated an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Nuvation Bio Stock Down 6.2%

The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -10.76 and a beta of 1.52. The stock’s 50 day moving average is $4.70 and its 200 day moving average is $5.92.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The business had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Analysts forecast that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling

In related news, insider Dongfang Liu sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the insider directly owned 18,000 shares in the company, valued at approximately $90,360. This trade represents a 73.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $4.52, for a total transaction of $904,000.00. Following the sale, the insider owned 53,000 shares of the company’s stock, valued at $239,560. The trade was a 79.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 286,750 shares of company stock worth $1,339,118 in the last quarter. Company insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

Large investors have recently added to or reduced their stakes in the business. Capricorn Fund Managers Ltd bought a new stake in Nuvation Bio during the fourth quarter worth approximately $14,236,000. JPMorgan Chase & Co. boosted its holdings in Nuvation Bio by 472.8% during the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock worth $2,500,000 after buying an additional 557,656 shares in the last quarter. Aisling Capital Management LP boosted its holdings in Nuvation Bio by 16.5% during the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after buying an additional 419,650 shares in the last quarter. NEOS Investment Management LLC boosted its holdings in Nuvation Bio by 80.8% during the third quarter. NEOS Investment Management LLC now owns 252,522 shares of the company’s stock worth $934,000 after buying an additional 112,874 shares in the last quarter. Finally, AMI Asset Management Corp acquired a new position in Nuvation Bio in the 4th quarter worth approximately $1,133,000. 61.67% of the stock is currently owned by institutional investors.

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.