Nuvation Bio (NYSE:NUVB) Trading Down 4.4% - Should You Sell?

Key Points

• Nuvation Bio shares fell 4.4% to approximately $6.01, with trading volume down 84% versus the average. The stock remains below its 50-day moving average but above its 200-day average.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy, two rate it Hold, and one rates it Sell. The consensus rating is “Moderate Buy” with an average price target of $13, more than double the recent trading price.
• The company reported a quarterly loss of $0.15 per share, slightly worse than expectations, despite revenue exceeding estimates. Nuvation also posted negative profitability metrics, while insiders sold about $2.13 million of stock over the past 90 days.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report)'s stock price traded down 4.4% during trading on Friday . The stock traded as low as $6.01 and last traded at $6.0050. Approximately 890,934 shares changed hands during trading, a decline of 84% from the average daily volume of 5,482,975 shares. The stock had previously closed at $6.28.

Analysts Set New Price Targets

Several analysts recently issued reports on NUVB shares. B. Riley Financial reissued a "buy" rating on shares of Nuvation Bio in a report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Nuvation Bio in a research note on Friday, July 17th. Truist Financial increased their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Cantor Fitzgerald started coverage on Nuvation Bio in a research note on Friday, August 21st. They issued an "overweight" rating on the stock. Finally, Wedbush reissued an "outperform" rating and set a $11.00 price target on shares of Nuvation Bio in a report on Thursday, July 23rd. Ten equities research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $13.00.

Nuvation Bio Stock Down 4.9%

The firm's 50 day simple moving average is $6.42 and its 200 day simple moving average is $5.41. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -13.62 and a beta of 1.52. The company has a quick ratio of 8.14, a current ratio of 8.37 and a debt-to-equity ratio of 0.96.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The business had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. Sell-side analysts anticipate that Nuvation Bio Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nuvation Bio news, insider Kerry Wentworth sold 63,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total transaction of $379,260.00. Following the sale, the insider owned 53,000 shares of the company's stock, valued at $319,060. The trade was a 54.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total value of $753,750.00. Following the transaction, the insider owned 32,591 shares of the company's stock, valued at $196,523.73. This trade represents a 79.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 335,668 shares of company stock worth $2,128,495 over the last 90 days. Insiders own 30.11% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company's stock valued at $191,000 after buying an additional 4,608 shares during the period. Millennium Management LLC lifted its stake in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock worth $6,642,000 after acquiring an additional 1,298,131 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of Nuvation Bio in the second quarter valued at approximately $92,000. Creative Planning boosted its holdings in shares of Nuvation Bio by 267.1% in the second quarter. Creative Planning now owns 39,288 shares of the company's stock valued at $77,000 after acquiring an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 61.67% of the company's stock.

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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