Nuvation Bio (NYSE:NUVB) Trading Down 15.5% - Should You Sell?

Key Points

• Nuvation Bio's stock experienced a significant decline of 15.5%, trading as low as $3.29, with an average trading volume of about 4 million shares.
• Analysts maintain a generally positive outlook, with a consensus rating of "Buy" and a target price of $7.50, despite the recent downturn.
• The company reported revenue of $4.83 million for its last quarterly earnings, surpassing estimates and achieving earnings per share of ($0.17).

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) shares were down 15.5% during trading on Monday . The stock traded as low as $3.29 and last traded at $3.30. Approximately 4,048,824 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 4,405,019 shares. The stock had previously closed at $3.90.

Analyst Ratings Changes

Several equities analysts recently commented on NUVB shares. Royal Bank Of Canada upped their price target on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Wedbush reissued an "outperform" rating and set a $6.00 target price on shares of Nuvation Bio in a research report on Monday. JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 price target on shares of Nuvation Bio in a report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Nuvation Bio from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $7.50.

Nuvation Bio Price Performance

The company has a quick ratio of 9.38, a current ratio of 9.39 and a debt-to-equity ratio of 0.13. The business has a 50 day simple moving average of $2.52 and a 200-day simple moving average of $2.21. The company has a market capitalization of $1.20 billion, a P/E ratio of -5.58 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%.The firm had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. Analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors have recently modified their holdings of NUVB. Price T Rowe Associates Inc. MD boosted its stake in Nuvation Bio by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company's stock valued at $599,000 after acquiring an additional 9,758 shares during the last quarter. Northern Trust Corp boosted its stake in Nuvation Bio by 37.0% during the fourth quarter. Northern Trust Corp now owns 2,086,751 shares of the company's stock worth $5,551,000 after buying an additional 563,627 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Nuvation Bio during the 4th quarter worth about $64,000. Deutsche Bank AG lifted its position in shares of Nuvation Bio by 58.0% in the fourth quarter. Deutsche Bank AG now owns 155,100 shares of the company's stock worth $413,000 after purchasing an additional 56,931 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nuvation Bio by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company's stock valued at $276,000 after purchasing an additional 5,693 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

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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