Nuvation Bio (NYSE:NUVB) Sees Strong Trading Volume – Here’s What Happened

Nuvation Bio Inc. (NYSE:NUVB) saw unusually-high trading volume on Friday . 3,274,813 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 5,004,183 shares.The stock last traded at $5.6480 and had previously closed at $5.81.

Analyst Upgrades and Downgrades

Several research firms have commented on NUVB. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. UBS Group lowered their price target on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Nuvation Bio Trading Down 3.2%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The business’s 50 day moving average price is $4.93 and its 200-day moving average price is $5.72. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -13.10 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. Equities analysts expect that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Philippe Sauvage sold 47,668 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total transaction of $286,484.68. Following the sale, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. This represents a 79.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the insider owned 18,000 shares in the company, valued at $90,360. This trade represents a 73.53% 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. In the last ninety days, insiders sold 522,418 shares of company stock worth $2,758,612. Corporate insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently bought and sold shares of the business. Rangeley Capital LLC acquired a new position in Nuvation Bio in the second quarter valued at approximately $25,000. Parallel Advisors LLC lifted its holdings in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after purchasing an additional 2,597 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the 2nd quarter worth approximately $29,000. Captrust Financial Advisors acquired a new position in Nuvation Bio during the 2nd quarter valued at approximately $32,000. Finally, KBC Group NV bought a new position in Nuvation Bio during the 1st quarter worth $37,000. Institutional investors 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.