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

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $6.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 25th. Citizens Jmp assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 11th. Royal Bank Of Canada raised shares of Nuvation Bio from an "outperform" rating to a "moderate buy" rating and decreased their price objective for the stock from $10.00 to $6.00 in a report on Tuesday, June 17th. Finally, Wall Street Zen downgraded shares of Nuvation Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.17.

Nuvation Bio Price Performance

The business has a 50 day moving average of $2.14 and a 200 day moving average of $2.19. The firm has a market capitalization of $732.92 million, a price-to-earnings ratio of -0.92 and a beta of 1.33.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced 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). Nuvation Bio had a negative return on equity of 44.14% and a negative net margin of 5,534.21%. The firm had revenue of $3.08 million for the quarter, compared to analysts' expectations of $0.42 million. On average, sell-side analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the transaction, the insider owned 12,000 shares of the company's stock, valued at $30,000. This represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 29.93% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds have recently modified their holdings of NUVB. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nuvation Bio during the fourth quarter worth about $27,000. Forum Financial Management LP bought a new position in Nuvation Bio in the fourth quarter valued at approximately $29,000. Cerity Partners LLC bought a new position in Nuvation Bio in the fourth quarter valued at approximately $31,000. Firethorn Wealth Partners LLC bought a new position in Nuvation Bio in the first quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. grew its stake in Nuvation Bio by 15,183.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock valued at $42,000 after purchasing an additional 15,791 shares in the last quarter. Institutional investors and hedge funds 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.

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