Nuvation Bio (NYSE:NUVB) Trading Up 5.4% - Still a Buy?

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NUVB. Wedbush reiterated an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 11th. Citigroup began coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set an "outperform" rating on the stock. Royal Bank Of Canada upgraded Nuvation Bio from an "outperform" rating to a "moderate buy" rating and lowered their price objective for the stock from $10.00 to $6.00 in a research report on Tuesday, June 17th. JMP Securities reiterated a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 25th. Finally, Wall Street Zen cut Nuvation Bio from a "hold" rating to a "sell" rating in a research 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 given a strong buy rating to the company. According to data from MarketBeat, Nuvation Bio presently has an average rating of "Moderate Buy" and a consensus price target of $7.17.

Nuvation Bio Price Performance

The company has a market capitalization of $770.69 million, a P/E ratio of -0.96 and a beta of 1.33. The stock has a 50-day moving average price of $2.14 and a 200-day moving average price of $2.18.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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%. Sell-side analysts anticipate that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction that occurred on 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 sale, the insider directly owned 12,000 shares in the company, valued at approximately $30,000. The trade was a 62.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 29.93% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds have recently added to or reduced their stakes in NUVB. Highline Wealth Partners LLC acquired a new stake in Nuvation Bio in the second quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $27,000. Forum Financial Management LP purchased a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $29,000. Cerity Partners LLC purchased a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $31,000. Finally, Firethorn Wealth Partners LLC purchased a new position in shares of Nuvation Bio during the first quarter valued at approximately $35,000. 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.