Nuvation Bio (NYSE:NUVB) Trading Up 6.7% - Still a Buy?

Key Points

• Nuvation Bio shares rose 6.7% to about $6.92, while trading volume remained below its average. Analysts maintain a “Moderate Buy” consensus with a $13 average price target.
• The company slightly missed quarterly EPS expectations, reporting a loss of $0.15 per share versus an expected $0.14 loss, but revenue of $31.69 million exceeded estimates of $27.03 million.
• Institutional investors own approximately 61.67% of the stock, while recent insider activity was mixed: a director bought shares, but insiders collectively sold $1.42 million worth of stock during the latest quarter.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) traded up 6.7% during trading on Tuesday . The company traded as high as $6.79 and last traded at $6.9150. 4,384,558 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 5,569,339 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

NUVB has been the subject of a number of recent analyst reports. Citigroup reiterated a "market outperform" rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvation Bio in a research report on Friday, July 17th. HC Wainwright lifted their target price on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a "buy" rating in a report on Monday, July 27th. Wedbush reiterated an "outperform" rating and issued a $11.00 target price on shares of Nuvation Bio in a report on Thursday, July 23rd. Finally, Truist Financial boosted their target price on Nuvation Bio from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Nuvation Bio presently has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Nuvation Bio Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -15.65 and a beta of 1.52. The firm has a 50-day simple moving average of $5.94 and a two-hundred day simple moving average of $5.26.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $31.69 million for the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. On average, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal bought 25,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the acquisition, the director directly owned 225,000 shares in the company, valued at $1,064,250. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Philippe Sauvage sold 47,668 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the transaction, the chief financial officer directly owned 12,673 shares of the company's stock, valued at $76,164.73. This represents a 79.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 235,668 shares of company stock valued at $1,419,495 in the last quarter. Corporate insiders own 30.11% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Nuvation Bio by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company's stock valued at $139,378,000 after purchasing an additional 101,011 shares in the last quarter. Millennium Management LLC raised its holdings in Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after acquiring an additional 1,298,131 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Nuvation Bio by 19.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company's stock worth $12,276,000 after acquiring an additional 551,508 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Nuvation Bio by 852.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company's stock worth $24,270,000 after acquiring an additional 2,424,109 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Nuvation Bio by 95.7% during the 3rd quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company's stock worth $8,797,000 after acquiring an additional 1,162,837 shares in the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company's pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.

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