Nuvation Bio (NYSE:NUVB) Shares Down 5.4% – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) was down 5.4% during mid-day trading on Friday . The stock traded as low as $8.49 and last traded at $8.4770. Approximately 1,350,068 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 5,615,220 shares. The stock had previously closed at $8.96.

Wall Street Analyst Weigh In

A number of research analysts have commented on NUVB shares. JMP Securities set a $10.00 price target on Nuvation Bio in a research report on Thursday, November 20th. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday, November 4th. Citizens Jmp raised their price target on Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 20th. HC Wainwright lifted their price target on shares of Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Truist Financial set a $11.00 price objective on shares of Nuvation Bio in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nuvation Bio has an average rating of “Moderate Buy” and a consensus price target of $10.56.

Nuvation Bio Stock Performance

The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.89 billion, a P/E ratio of -13.16 and a beta of 1.54. The business has a fifty day simple moving average of $7.18 and a 200-day simple moving average of $4.33.

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

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total transaction of $502,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dongfang Liu sold 150,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 18,000 shares in the company, valued at $140,760. This trade represents a 89.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 320,000 shares of company stock worth $2,050,800 in the last 90 days. 29.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Nuvation Bio by 16.8% during the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock valued at $11,691,000 after buying an additional 864,194 shares during the last quarter. Millennium Management LLC boosted its stake in Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nuvation Bio by 19.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock worth $12,276,000 after purchasing an additional 551,508 shares in the last quarter. Aisling Capital Management LP raised its stake in shares of Nuvation Bio by 16.5% in the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after purchasing an additional 419,650 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Nuvation Bio by 95.7% during 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 in the last quarter. 61.67% of the stock is owned by hedge funds and other 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.