Nuvation Bio (NYSE:NUVB) Shares Down 4.6% - Should You Sell?

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) traded down 4.6% during mid-day trading on Friday . The stock traded as low as $2.14 and last traded at $2.16. 826,787 shares changed hands during trading, a decline of 73% from the average session volume of 3,022,967 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HC Wainwright dropped their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. Citizens Jmp started coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $6.00 price target on shares of Nuvation Bio in a report on Monday. Citigroup started coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set an "outperform" rating for the company. Finally, Jones Trading assumed coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of "Buy" and an average price target of $7.83.

Nuvation Bio Price Performance

The company has a market cap of $835.35 million, a price-to-earnings ratio of -1.13 and a beta of 1.42. The company's 50-day simple moving average is $2.05 and its 200-day simple moving average is $2.32.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.16). The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $0.42 million. Equities analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the insider now owns 12,000 shares in the company, valued at approximately $30,000. This represents a 62.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Hung purchased 200,000 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $1.66 per share, with a total value of $332,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,481,054 shares of the company's stock, valued at approximately $97,078,549.64. This represents a 0.34% increase in their position. The disclosure for this purchase can be found here. 29.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in Nuvation Bio in the fourth quarter worth $27,000. Forum Financial Management LP bought a new position in shares of Nuvation Bio in the 4th quarter worth about $29,000. Cerity Partners LLC acquired a new position in shares of Nuvation Bio in the 4th quarter valued at about $31,000. Firethorn Wealth Partners LLC bought a new stake in shares of Nuvation Bio during the 1st quarter valued at about $35,000. Finally, Russell Investments Group Ltd. grew its position in shares of Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock valued at $42,000 after buying an additional 15,791 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors.

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.