Nuvation Bio (NYSE:NUVB) Trading Up 6.7% – Still a Buy?

Shares of Nuvation Bio Inc. (NYSE:NUVB) shot up 6.7% during trading on Tuesday . The company traded as high as $6.79 and last traded at $6.9150. Approximately 4,384,558 shares were traded during trading, a decline of 21% from the average session volume of 5,569,339 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

Several research firms have weighed in on NUVB. B. Riley Financial restated a “buy” rating on shares of Nuvation Bio in a report on Friday, August 7th. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Royal Bank Of Canada upped their target price on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Nuvation Bio Stock Up 4.1%

The stock’s fifty day moving average is $6.03 and its two-hundred day moving average is $5.29. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $2.54 billion, a PE ratio of -16.47 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. As a group, analysts predict that Nuvation Bio Inc. will post -0.34 EPS for the current year.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Kerry Wentworth sold 63,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total value of $379,260.00. Following the completion of the sale, the insider directly owned 53,000 shares of the company’s stock, valued at $319,060. This trade represents a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the transaction, the insider directly owned 32,591 shares in the company, valued at $196,523.73. This represents a 79.32% 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 90 days, insiders have sold 235,668 shares of company stock worth $1,419,495. 30.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Nuvation Bio by 6.5% in the second quarter. Wellington Management Group LLP now owns 715,781 shares of the company’s stock worth $4,066,000 after purchasing an additional 43,637 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Nuvation Bio in the 2nd quarter valued at approximately $32,000. Tortoise Investment Management LLC bought a new stake in Nuvation Bio during the 2nd quarter valued at $78,000. Bank of New York Mellon Corp purchased a new stake in shares of Nuvation Bio during the second quarter worth $3,804,000. Finally, Tema ETFs LLC boosted its holdings in shares of Nuvation Bio by 0.7% in the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after acquiring an additional 2,559 shares during the period. 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.