Nuvation Bio (NYSE:NUVB) Reaches New 12-Month Low – Here’s What Happened

Nuvation Bio Inc. (NYSE:NUVB) shares reached a new 52-week low on Friday. The company traded as low as $3.95 and last traded at $3.9750, with a volume of 146,839 shares. The stock had previously closed at $4.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUVB shares. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a report on Wednesday, September 16th. B. Riley Financial restated a “buy” rating on shares of Nuvation Bio in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research report on Thursday, October 15th. HC Wainwright raised their price objective on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $10.00 target price on shares of Nuvation Bio in a research note on Wednesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.89.

Nuvation Bio Stock Performance

The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -10.16 and a beta of 1.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 7.30 and a current ratio of 7.45. The stock’s 50-day simple moving average is $5.19 and its two-hundred day simple moving average is $5.34.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $44.95 million during the quarter, compared to analysts’ expectations of $34.39 million. Nuvation Bio had a negative net margin of 67.38% and a negative return on equity of 45.69%. Analysts forecast that Nuvation Bio Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling at Nuvation Bio

In related news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total transaction of $709,000.00. Following the completion of the transaction, the insider owned 100,000 shares of the company’s stock, valued at approximately $709,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its position in Nuvation Bio by 19.7% in the 3rd quarter. First Trust Advisors LP now owns 1,558,880 shares of the company’s stock worth $8,730,000 after buying an additional 256,543 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Nuvation Bio by 19.5% during the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock worth $6,996,000 after buying an additional 200,621 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Nuvation Bio by 75.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock worth $6,175,000 after buying an additional 619,725 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Nuvation Bio by 6.5% in the second quarter. Wellington Management Group LLP now owns 715,781 shares of the company’s stock valued at $4,066,000 after acquiring an additional 43,637 shares during the period. Finally, Tanaka Capital Management Inc. boosted its position in shares of Nuvation Bio by 7.2% in the first quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after acquiring an additional 60,220 shares during the period. Institutional investors and hedge funds own 61.67% of the company’s stock.

About Nuvation Bio

Nuvation Bio is a biopharmaceutical company focused on developing and commercializing treatments for cancer. Founded in 2018 by physician and biotechnology executive David Hung, the company is headquartered in New York and is led by Hung as founder and chief executive officer. Its commercial product, Ibtrozi (taletrectinib), is an oral targeted therapy approved in the United States for adults with ROS1-positive non-small cell lung cancer. Nuvation Bio also develops investigational oncology medicines, including therapies targeting specific genetic changes and other features of cancer.