Nuvation Bio (NYSE:NUVB) Shares Down 4.4% – Time to Sell?

Nuvation Bio Inc. (NYSE:NUVB) shares traded down 4.4% on Friday . The company traded as low as $6.01 and last traded at $6.0050. 890,934 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 5,482,975 shares. The stock had previously closed at $6.28.

Analyst Ratings Changes

Several brokerages have recently issued reports on NUVB. B. Riley Financial reiterated a “buy” rating on shares of Nuvation Bio in a research report on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on Nuvation Bio in a report on Tuesday, August 18th. They issued an “overweight” rating and a $13.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a report on Thursday, July 23rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Nuvation Bio Price Performance

The company has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $5.41. The company has a market cap of $2.10 billion, a P/E ratio of -13.62 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 data on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. On average, sell-side analysts predict that Nuvation Bio Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the transaction, the insider owned 100,000 shares in the company, valued at $709,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the transaction, the chief financial officer owned 12,673 shares of the company’s stock, valued at $76,164.73. This trade represents a 79.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 335,668 shares of company stock valued at $2,128,495. 30.11% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently bought and sold shares of NUVB. Tidal Investments LLC boosted its holdings in shares of Nuvation Bio by 0.7% in the second quarter. Tidal Investments LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after buying an additional 2,559 shares during the period. MCF Advisors LLC acquired a new position in Nuvation Bio in the 2nd quarter worth approximately $155,000. WINTON GROUP Ltd purchased a new position in Nuvation Bio during the 2nd quarter worth approximately $110,000. NewEdge Advisors LLC grew its position in Nuvation Bio by 19.5% during the 2nd quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock worth $6,996,000 after purchasing an additional 200,621 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Nuvation Bio by 31.4% during the 2nd quarter. Squarepoint Ops LLC now owns 164,211 shares of the company’s stock worth $933,000 after purchasing an additional 39,267 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

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.