Nuvation Bio (NYSE:NUVB) Shares Down 5.2% - Should You Sell?

Shares of Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) fell 5.2% during mid-day trading on Monday . The company traded as low as $2.10 and last traded at $2.09. 2,773,802 shares changed hands during trading, a decline of 9% from the average session volume of 3,064,305 shares. The stock had previously closed at $2.20.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NUVB. Citigroup began coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set an "outperform" rating for the company. Royal Bank Of Canada raised Nuvation Bio from an "outperform" rating to a "moderate buy" rating and lowered their price target for the company from $10.00 to $6.00 in a research report on Tuesday, June 17th. Citizens Jmp began coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price target for the company. JMP Securities reissued a "market outperform" rating and set a $6.00 price target on shares of Nuvation Bio in a research report on Wednesday, June 25th. Finally, Wall Street Zen downgraded Nuvation Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $7.17.

Nuvation Bio Price Performance

The company has a 50-day moving average price of $2.14 and a two-hundred day moving average price of $2.18. The company has a market cap of $764.56 million, a PE ratio of -0.96 and a beta of 1.33.

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

Insider Buying and Selling

In related news, insider Dongfang Liu sold 20,000 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the transaction, the insider owned 12,000 shares of the company's stock, valued at approximately $30,000. This represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 29.93% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nuvation Bio by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company's stock valued at $191,000 after purchasing an additional 4,608 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Nuvation Bio by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock valued at $3,062,000 after purchasing an additional 5,925 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Nuvation Bio by 11.7% in the first quarter. Exchange Traded Concepts LLC now owns 60,951 shares of the company's stock valued at $107,000 after purchasing an additional 6,403 shares during the last quarter. Pale Fire Capital SE boosted its holdings in Nuvation Bio by 17.0% in the first quarter. Pale Fire Capital SE now owns 45,642 shares of the company's stock valued at $80,000 after purchasing an additional 6,642 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Nuvation Bio by 27.0% during the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock valued at $83,000 after buying an additional 6,673 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company's stock.

About Nuvation Bio

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.