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

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on NUVB shares. JMP Securities set a $10.00 price objective on shares of Nuvation Bio in a research note on Thursday, November 20th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. Citizens Jmp boosted their price target on Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a research note on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Wednesday, October 8th. Finally, Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Nuvation Bio in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nuvation Bio currently has an average rating of “Moderate Buy” and a consensus target price of $10.80.

Nuvation Bio Price Performance

The firm has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $4.86. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -9.23 and a beta of 1.54. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14.

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

Insider Buying and Selling

In other Nuvation Bio news, insider Dongfang Liu sold 150,000 shares of the company’s 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 sale, the insider owned 18,000 shares in the company, valued at approximately $140,760. This represents a 89.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gary Hattersley sold 100,000 shares of the firm’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 transaction of $502,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 320,000 shares of company stock valued at $2,050,800 over the last three months. 29.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NUVB. Armistice Capital LLC grew its position in shares of Nuvation Bio by 359.2% during the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after acquiring an additional 1,796,000 shares during the period. Capricorn Fund Managers Ltd acquired a new position in Nuvation Bio in the 4th quarter worth about $14,236,000. Millennium Management LLC boosted its position in Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares in the last quarter. Two Sigma Investments LP grew its holdings in Nuvation Bio by 95.7% in the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock valued at $8,797,000 after purchasing an additional 1,162,837 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Nuvation Bio in the third quarter valued at approximately $3,535,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.