Nuvation Bio (NYSE:NUVB) Shares Gap Up - Time to Buy?

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.05, but opened at $2.14. Nuvation Bio shares last traded at $2.23, with a volume of 2,024,606 shares.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of analyst reports. Royal Bank Of Canada raised Nuvation Bio from an "outperform" rating to a "moderate buy" rating and dropped their price target for the stock from $10.00 to $6.00 in a research note on Tuesday, June 17th. JMP Securities reissued a "market outperform" rating and issued a $6.00 price target on shares of Nuvation Bio in a research report on Wednesday, June 25th. Wall Street Zen downgraded shares of Nuvation Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.17.

Nuvation Bio Trading Down 2.3%

The firm has a market cap of $787.71 million, a price-to-earnings ratio of -0.99 and a beta of 1.33. The stock's 50 day moving average is $2.14 and its 200 day moving average is $2.20.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. Nuvation Bio had a negative net margin of 5,534.21% and a negative return on equity of 44.14%. On average, equities research analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the transaction, the insider directly owned 12,000 shares of the company's stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 29.93% of the company's stock.

Institutional Trading of Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in NUVB. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Nuvation Bio in the fourth quarter worth about $27,000. Forum Financial Management LP purchased a new position in Nuvation Bio in the 4th quarter worth approximately $29,000. Cerity Partners LLC purchased a new position in Nuvation Bio in the 4th quarter worth approximately $31,000. Russell Investments Group Ltd. grew its stake in Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock worth $42,000 after buying an additional 15,791 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Nuvation Bio in the 4th quarter worth approximately $45,000. 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.