Nuvation Bio (NYSE:NUVB) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Nuvation Bio (NYSE:NUVB) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

NUVB has been the subject of several other reports. Truist Financial raised their price objective on Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. HC Wainwright boosted their target price on Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. started coverage on Nuvation Bio in a research report on Tuesday, August 18th. They set an “overweight” rating and a $13.00 target price on the stock. Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Cantor Fitzgerald initiated coverage on Nuvation Bio in a research report on Friday, August 21st. They issued an “overweight” rating for the company. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.22.

Nuvation Bio Stock Down 2.1%

NYSE NUVB opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14. The company’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $5.52. Nuvation Bio has a 12 month low of $3.36 and a 12 month high of $9.75. The company has a market capitalization of $1.72 billion, a P/E ratio of -11.13 and a beta of 1.61.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $31.69 million for the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. Equities research analysts expect that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the sale, the insider directly owned 100,000 shares of the company’s stock, valued at $709,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Nuvation Bio in the first quarter worth approximately $2,399,000. Ishara Investments LP bought a new position in Nuvation Bio during the fourth quarter valued at approximately $3,584,000. Bank of New York Mellon Corp acquired a new stake in Nuvation Bio in the second quarter valued at approximately $3,804,000. NewEdge Advisors LLC lifted its stake in Nuvation Bio by 19.5% in the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock valued at $6,996,000 after acquiring an additional 200,621 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Nuvation Bio in the second quarter valued at approximately $625,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses small-molecule drug discovery and development approaches to pursue therapies intended to address difficult-to-treat tumors and areas of significant unmet medical need.

Nuvation Bio’s pipeline has included NUV-868, an oral investigational inhibitor of DYRK1A being studied in solid tumors, and NUV-1511, an investigational oncology drug designed to interfere with cancer-cell DNA damage response mechanisms.