Nuvation Bio (NYSE:NUVB) Shares Up 5.4% - Time to Buy?

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) shares shot up 5.4% on Wednesday . The company traded as high as $2.25 and last traded at $2.25. 644,175 shares traded hands during trading, a decline of 85% from the average session volume of 4,161,159 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NUVB. 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. Royal Bank Of Canada upgraded shares of Nuvation Bio from an "outperform" rating to a "moderate buy" rating and decreased their target price for the company from $10.00 to $6.00 in a research note on Tuesday, June 17th. Citigroup assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set an "outperform" rating for the company. Wall Street Zen downgraded shares of Nuvation Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Citizens Jmp assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $7.17.

Nuvation Bio Trading Up 3.1%

The firm's 50-day moving average price is $2.15 and its 200-day moving average price is $2.17. The stock has a market capitalization of $786.00 million, a PE ratio of -0.98 and a beta of 1.33.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.16). The company had revenue of $3.08 million for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Insider Activity

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 12,000 shares in the company, valued at $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 29.93% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC purchased a new position in shares of Nuvation Bio in the second quarter worth $25,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Nuvation Bio during the 4th quarter worth about $27,000. Forum Financial Management LP purchased a new position in shares of Nuvation Bio during the 4th quarter valued at about $29,000. Cerity Partners LLC purchased a new position in shares of Nuvation Bio during the 4th quarter valued at about $31,000. Finally, Firethorn Wealth Partners LLC purchased a new position in shares of Nuvation Bio during the 1st quarter valued at about $35,000. Hedge funds and other 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.