Nuvation Bio (NYSE:NUVB) Shares Gap Up – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.80, but opened at $5.08. Nuvation Bio shares last traded at $5.01, with a volume of 2,608,534 shares.

Wall Street Analyst Weigh In

NUVB has been the topic of a number of recent analyst reports. Zacks Research lowered Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Eight 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 data from MarketBeat, Nuvation Bio presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Nuvation Bio Trading Down 6.4%

The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $4.71 and its 200-day moving average is $5.90. The firm has a market cap of $1.61 billion, a P/E ratio of -10.73 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (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 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%. As a group, analysts forecast that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kerry Wentworth sold 36,750 shares of Nuvation Bio stock in a transaction on Friday, April 17th. The shares were sold at an average price of $5.01, for a total value of $184,117.50. Following the completion of the sale, the insider owned 53,000 shares in the company, valued at approximately $265,530. The trade was a 40.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction on Friday, April 17th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the insider owned 18,000 shares of the company’s stock, valued at approximately $90,360. This trade represents a 73.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 286,750 shares of company stock valued at $1,339,118. Insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Nuvation Bio by 9.8% during the fourth quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock worth $201,000 after purchasing an additional 2,007 shares during the last quarter. Parallel Advisors LLC lifted its stake in Nuvation Bio by 51.9% during the third 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. Russell Investments Group Ltd. lifted its stake in Nuvation Bio by 17.7% during the fourth quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock worth $219,000 after purchasing an additional 3,681 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in Nuvation Bio by 3.8% during the fourth quarter. Meridian Wealth Management LLC now owns 113,565 shares of the company’s stock worth $1,018,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Nuvation Bio by 38.8% during the third quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock worth $58,000 after purchasing an additional 4,400 shares during the last quarter. 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.