Nuvation Bio (NYSE:NUVB) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Nuvation Bio (NYSE:NUVB - Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities analysts have also recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 11th. Jones Trading assumed coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They set a "buy" rating and a $10.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and set a $6.00 target price on shares of Nuvation Bio in a research note on Monday, June 2nd. Finally, Citigroup initiated coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued an "outperform" rating for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $7.17.

Nuvation Bio Stock Performance

Shares of NYSE NUVB traded down $0.14 during midday trading on Friday, reaching $1.73. The stock had a trading volume of 6,425,358 shares, compared to its average volume of 2,699,515. The stock has a 50-day moving average of $2.15 and a 200-day moving average of $2.28. The company has a market capitalization of $586.95 million, a price-to-earnings ratio of -0.73 and a beta of 1.37. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $3.97.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.16). The firm had revenue of $3.08 million during the quarter, compared to analysts' expectations of $0.42 million. Nuvation Bio had a negative net margin of 5,534.21% and a negative return on equity of 44.14%. As a group, analysts forecast that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Insider Transactions at Nuvation Bio

In other news, CEO David Hung bought 200,000 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the acquisition, the chief executive officer now owns 58,481,054 shares of the company's stock, valued at $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total transaction of $50,000.00. Following the sale, the insider now owns 12,000 shares of the company's stock, valued at $30,000. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.93% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NUVB. Palumbo Wealth Management LLC lifted its holdings in Nuvation Bio by 297.4% during the 4th quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company's stock valued at $174,000 after buying an additional 48,914 shares in the last quarter. Abacus Planning Group Inc. bought a new stake in Nuvation Bio during the 4th quarter valued at about $44,000. Ieq Capital LLC bought a new stake in Nuvation Bio during the 4th quarter valued at about $98,000. Bank of New York Mellon Corp lifted its holdings in Nuvation Bio by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company's stock valued at $1,379,000 after buying an additional 14,203 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Nuvation Bio by 39.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company's stock valued at $5,176,000 after buying an additional 551,968 shares in the last quarter. Institutional investors own 61.67% of the company's stock.

Nuvation Bio Company Profile

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.