Nuvation Bio (NYSE:NUVB) Shares Up 11% – Still a Buy?

Nuvation Bio Inc. (NYSE:NUVB)’s share price rose 11% on Monday . The company traded as high as $6.26 and last traded at $6.4360. 1,306,746 shares were traded during mid-day trading, a decline of 76% from the average session volume of 5,440,677 shares. The stock had previously closed at $5.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada cut their price objective on Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Finally, Truist Financial boosted their target price on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.38.

Nuvation Bio Price Performance

The firm’s 50-day moving average price is $5.21 and its two-hundred day moving average price is $5.36. The stock has a market cap of $2.21 billion, a PE ratio of -14.80 and a beta of 1.52. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The company had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. On average, equities analysts expect that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Stacy Markel sold 125,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the sale, the insider directly owned 32,591 shares in the company, valued at $196,523.73. This represents a 79.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 63,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total value of $379,260.00. Following the sale, the insider owned 53,000 shares of the company’s stock, valued at $319,060. This trade represents a 54.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 235,668 shares of company stock worth $1,419,495 over the last quarter. Insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently added to or reduced their stakes in the company. Tema ETFs LLC lifted its position in shares of Nuvation Bio by 0.7% during the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock valued at $2,245,000 after buying an additional 2,559 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Nuvation Bio in the 2nd quarter worth approximately $732,000. NewEdge Advisors LLC raised its stake in shares of Nuvation Bio by 8.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock worth $4,423,000 after acquiring an additional 78,946 shares in the last quarter. Tanaka Capital Management Inc. raised its stake in shares of Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after acquiring an additional 60,220 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Nuvation Bio during the first quarter valued at approximately $187,000. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Company Profile

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.