Nuvation Bio (NYSE:NUVB) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Nuvation Bio (NYSE:NUVB) from a "hold" rating to a "sell" rating, indicating concerns about the company's market performance.
• Despite the downgrade, analysts maintain a consensus rating of "Moderate Buy" for Nuvation Bio, with an average target price of $7.33.
• Nuvation Bio reported a revenue of $4.83 million for the last quarter, significantly exceeding the consensus estimate of $0.42 million, despite a negative net margin of 1,413.43%.

Nuvation Bio (NYSE:NUVB - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other research firms have also weighed in on NUVB. Wedbush restated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Wednesday, June 11th. Citizens Jmp assumed coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price target on the stock. Citigroup assumed coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued an "outperform" rating on the stock. Royal Bank Of Canada upped their price target on Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, JMP Securities restated a "market outperform" rating and issued a $6.00 price target on shares of Nuvation Bio in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.33.

Nuvation Bio Trading Up 11.9%

Shares of NUVB traded up $0.28 during trading hours on Friday, hitting $2.60. The company had a trading volume of 3,153,371 shares, compared to its average volume of 4,175,997. The company has a quick ratio of 9.38, a current ratio of 9.39 and a debt-to-equity ratio of 0.13. Nuvation Bio has a 52-week low of $1.54 and a 52-week high of $3.45. The stock's 50 day moving average price is $2.20 and its 200 day moving average price is $2.13. The firm has a market cap of $882.97 million, a P/E ratio of -4.17 and a beta of 1.35.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting 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 company had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. On average, research analysts predict that Nuvation Bio will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nuvation Bio during the 4th quarter valued at $27,000. BNP Paribas Financial Markets bought a new position in shares of Nuvation Bio during the 4th quarter valued at $64,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nuvation Bio by 54.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company's stock valued at $925,000 after buying an additional 122,187 shares during the period. Millennium Management LLC lifted its holdings in shares of Nuvation Bio by 82.7% during the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company's stock valued at $6,586,000 after buying an additional 1,120,874 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Nuvation Bio by 40.1% during the 4th quarter. California State Teachers Retirement System now owns 200,380 shares of the company's stock valued at $533,000 after buying an additional 57,310 shares during the period. 61.67% of the stock is owned by 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.