Nuvation Bio (NYSE:NUVB) Rating Lowered to "Sell" at Wall Street Zen

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 research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other equities research analysts also recently issued reports on the company. Citigroup assumed coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set an "outperform" rating for the company. Wedbush reaffirmed an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a report on Wednesday, June 11th. Royal Bank Of Canada increased their price target on Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday. Citizens Jmp initiated coverage on 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. Finally, JMP Securities reiterated a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Nuvation Bio has a consensus rating of "Moderate Buy" and a consensus price target of $7.33.

Nuvation Bio Stock Performance

NYSE:NUVB traded down $0.07 during mid-day trading on Friday, reaching $2.24. 3,711,901 shares of the stock were exchanged, compared to its average volume of 4,183,378. The company has a 50 day simple moving average of $2.20 and a 200-day simple moving average of $2.13. The stock has a market capitalization of $760.49 million, a P/E ratio of -3.55 and a beta of 1.35. 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 1 year low of $1.54 and a 1 year high of $3.45.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $4.83 million during the quarter, compared to the consensus estimate of $0.42 million. Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%. Analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently made changes to their positions in NUVB. Intech Investment Management LLC raised its holdings in shares of Nuvation Bio by 9.7% in the 2nd quarter. Intech Investment Management LLC now owns 127,174 shares of the company's stock valued at $248,000 after purchasing an additional 11,212 shares during the period. Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at about $29,000. Creative Planning raised its holdings in shares of Nuvation Bio by 267.1% in the 2nd quarter. Creative Planning now owns 39,288 shares of the company's stock valued at $77,000 after purchasing an additional 28,585 shares during the period. Meridian Wealth Management LLC raised its holdings in shares of Nuvation Bio by 5.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 87,115 shares of the company's stock valued at $170,000 after purchasing an additional 4,780 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Nuvation Bio by 64.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 59,478 shares of the company's stock valued at $116,000 after purchasing an additional 23,274 shares during the period. Institutional investors and hedge funds 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.