Nuvation Bio (NYSE:NUVB) Lowered to “Strong Sell” Rating by Zacks Research

Nuvation Bio (NYSE:NUVB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Finally, Truist Financial set a $13.00 price target on shares of Nuvation Bio in a research report on Tuesday, January 27th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Nuvation Bio presently has an average rating of “Moderate Buy” and an average target price of $12.50.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $4.73 on Tuesday. 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 company has a market cap of $1.65 billion, a P/E ratio of -10.99 and a beta of 1.51. Nuvation Bio has a 52 week low of $1.57 and a 52 week high of $9.75. The company has a 50-day moving average price of $4.60 and a 200 day moving average price of $5.93.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. Research analysts predict that Nuvation Bio will post -0.64 earnings per share for the current year.

Insider Activity at Nuvation Bio

In related news, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction that occurred 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 transaction, the insider directly owned 18,000 shares in the company, valued at $90,360. The trade was a 73.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of Nuvation Bio stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $4.52, for a total value of $904,000.00. Following the transaction, the insider owned 53,000 shares of the company’s stock, valued at $239,560. This represents a 79.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 286,750 shares of company stock valued at $1,339,118 over the last 90 days. Insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. Rangeley Capital LLC purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $25,000. Parallel Advisors LLC grew its stake in 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 acquiring an additional 2,597 shares during the period. Cetera Investment Advisers purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $29,000. Captrust Financial Advisors purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $32,000. Finally, KBC Group NV purchased a new stake in Nuvation Bio in the 1st quarter worth approximately $37,000. 61.67% of the stock is owned by hedge funds and other 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.