Stock Traders Purchase Large Volume of Nuvation Bio Call Options (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 11,651 call options on the company. This is an increase of approximately 362% compared to the typical daily volume of 2,520 call options.

Nuvation Bio Price Performance

NYSE NUVB traded up $2.07 during trading hours on Wednesday, reaching $6.87. 26,086,329 shares of the company’s stock were exchanged, compared to its average volume of 5,305,783. The firm has a fifty day moving average of $4.04 and a 200-day moving average of $2.96. The stock has a market cap of $2.36 billion, a PE ratio of -10.73 and a beta of 1.49. Nuvation Bio has a one year low of $1.54 and a one year high of $6.87. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The business had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. On average, equities research analysts predict that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on NUVB shares. Jefferies Financial Group assumed coverage on shares of Nuvation Bio in a research note on Tuesday, September 30th. They set a “buy” rating and a $10.00 price target on the stock. Citizens Jmp boosted their target price on Nuvation Bio from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a research report on Monday, October 13th. Finally, Wall Street Zen upgraded Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Insider Transactions at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $5.02, for a total transaction of $502,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 29.93% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently modified their holdings of NUVB. Parallel Advisors LLC lifted its stake in Nuvation Bio by 51.9% in the third 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 last quarter. LCM Capital Management Inc increased its holdings in shares of Nuvation Bio by 29.2% in the third quarter. LCM Capital Management Inc now owns 15,500 shares of the company’s stock valued at $57,000 after buying an additional 3,500 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Nuvation Bio by 38.8% in the third quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock worth $58,000 after buying an additional 4,400 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Nuvation Bio by 21.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 24,610 shares of the company’s stock worth $91,000 after buying an additional 4,419 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nuvation Bio by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after buying an additional 4,608 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.