Nuvation Bio Target of Unusually Large Options Trading (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) saw unusually large options trading on Tuesday. Stock traders acquired 8,120 call options on the company. This is an increase of 212% compared to the average daily volume of 2,599 call options.

Nuvation Bio Trading Down 5.7%

NYSE:NUVB traded down $0.30 on Tuesday, hitting $4.88. 14,142,332 shares of the stock were exchanged, compared to its average volume of 5,121,255. The stock has a market cap of $1.67 billion, a PE ratio of -7.74 and a beta of 1.48. The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $3.68 and a 200-day moving average of $2.75. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.55.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. The company had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%. As a group, equities analysts expect that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NUVB shares. Jefferies Financial Group started coverage on Nuvation Bio in a research note on Tuesday, September 30th. They issued a “buy” rating and a $10.00 target price for the company. Wall Street Zen upgraded Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Royal Bank Of Canada upped their target price on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Nuvation Bio in a research note on Monday, October 13th. Finally, Citizens Jmp upped their target price on Nuvation Bio from $6.00 to $8.00 and gave the company a “market outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.57.

Insider Buying and Selling at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

A number of large investors have recently modified their holdings of NUVB. LCM Capital Management Inc increased its holdings in shares of Nuvation Bio by 29.2% in the 3rd quarter. LCM Capital Management Inc now owns 15,500 shares of the company’s stock valued at $57,000 after acquiring an additional 3,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock worth $191,000 after purchasing an additional 4,608 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Nuvation Bio by 5.8% in the second quarter. Meridian Wealth Management LLC now owns 87,115 shares of the company’s stock worth $170,000 after purchasing an additional 4,780 shares during the period. Cresset Asset Management LLC increased its stake in Nuvation Bio by 3.5% during the second quarter. Cresset Asset Management LLC now owns 143,690 shares of the company’s stock valued at $280,000 after purchasing an additional 4,874 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Nuvation Bio by 75.9% during the third quarter. Federated Hermes Inc. now owns 11,630 shares of the company’s stock worth $43,000 after purchasing an additional 5,020 shares during the period. Institutional investors and hedge funds own 61.67% of the company’s stock.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.